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Bank of China Serbian arm posts profit in Jan-Sept 2017

Bank of China Serbian arm posts profit in Jan-Sept 2017 Bank of China; By mailer_diablo (Self-taken (Unmodified)), via Wikimedia Commons

BELGRADE (Serbia), January 9 (SeeNews) - Bank of China's Serbian unit, established in January 2017, posted a profit of 136.8 million dinars ($1.38 million/1.15 million euro) in the first nine months of 2017, the lender's interim financial statement shows.

The net interest income of Bank of China Serbia a.d. Beograd came in at 382,000 dinars in the first nine months of 2017, while net fee and commission income totalled 269.8 million dinars in the period under review, according to the financial statement of the bank posted on the website of Serbia's central bank, NBS.

Total costs amounted to 137.2 million dinars in the first nine months of 2017.

The bank's loan portfolio amounted to 275.5 million dinars, while total assets stood at 1.983 billion dinars at the end of September.

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 = 118.711 dinars)

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