January 28 (SeeNews) - North Macedonia's largest lender, Komercijalna Banka [MSE:KMB], said its net profit reached 2.3 billion denars ($41.7 million/37.5 million euro) in 2021, up 20% year-on-year, mostly due to lower financial impairment losses.
Komercijalna Banka's net financial impairment losses fell to 934.6 million denars in 2021, compared with 1.4 billion denars reported a year earlier, the bank said in an annual financial statement filed with the stock exchange in Skopje on Thursday.
The bank's net interest income edged up 1.5% to 2.5 billion denars in 2021, while net fee and commission income was 11.3% higher at 1.1 billion denars.
Loans and advances to customers other than banks grew to 53.5 billion denars at the end of 2021, compared with 51 billion denars at the end of 2020, while deposits from such customers increased to 130.6 billion denars from 116.5 billion denars at the end of 2020.
Komercijalna's total assets rose to 148.6 billion denars at the end of 2021 from 132.6 billion denars at the end of 2020.
The lender's shares traded at an average price of 12,273 denars on Thursday on the Macedonian Stock Exchange (MSE).
(1 euro = 61.36 denars)
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