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Bank of China Serbian arm posts 39.8 mln dinars (330,000 euro) H1 loss

Bank of China Serbian arm posts 39.8 mln dinars (330,000 euro) H1 loss Bank of China; By mailer_diablo (Self-taken (Unmodified)), via Wikimedia Commons

BELGRADE (Serbia), November 1 (SeeNews) - Bank of China's Serbian unit, established in January, posted a loss of 39.8 million dinars ($388,555/333,962 euro) in the first half of 2017, the lender's interim financial statement shows.

The net interest income of Bank of China Serbia a.d. Beograd stood at 382,000 dinars in the first six months of 2017, while no net fee and commission income was recorded in the review period, according to the financial statement of the bank posted on the website of Serbia's central bank, NBS.

Total costs amounted to 40.1 million dinars in the first half of 2017 .

The bank's loan portfolio amounted to 1.875 million dinars, while total assets stood at 1.804 billion dinars at the end of June. 

In January, Bank of China appointed former NBS governor Dejan Soskic and former Serbian economy minister Zeljko Sertic as management board members of Bank of China Serbia a.d. Beograd. Slavisa Aleksic, former manager at Findomestic Banka and Astra Banka, was appointed as executive board member.

Bank of China Hungary owns the entire capital of Bank of China Serbia a.d. Beograd. The Serbian unit of Bank of China will support Chinese and Serbian companies jointly entering third markets and will also offer services to retail customers.

(1 euro = 119.185 dinars)

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