March 1 (SeeNews) - The unit of Addiko Bank in Bosnia's Serb Republic, former Hypo Alpe Adria, said on Wednesday its net loss narrowed to 9 million marka ($4.9 million/4.6 million euro) in 2016, from 52.6 million marka a year earlier.
Net interest income dropped 3.7% to 17.8 million marka last year, while net income from fees and commissions increased to 9.7 million marka from 9.2 million marka a year earlier, Addiko a.d. Banja Luka said in its financial statement filed with the Banja Luka Stock Exchange.
The bank's total assets stood at 715.8 million marka at the end of December.
"The bank's main focus in 2017 will be on developing operations with small and medium-sized enterprises, while the bank will maintain a strong presence in the corporate and public sectors, through the provision of support to existing customers", the board chairman of Addiko Banja Luka, Mario Ivankovic, said in a statement.
"The bank is now in a position to plan stable growth with a strong capital base", he added.
Addiko Bank is an Austrian banking group, which began to operate in the Balkan region instead of Hypo Alpe Adria Bank in July last year. The name change was part of the restructuring of the group after the Austria sold the bank in 2015 to US investment fund Advent International and the European Bank for Reconstruction and Development (EBRD).
(1 euro=1.95583 marka)