You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Bulgarian lender CCB grows H1 cons net profit on revenue rise

Author Mario Tanev
Bulgarian lender CCB grows H1 cons net profit on revenue rise wrangler/Shutterstock.com

SOFIA (Bulgaria), September 2 (SeeNews) - Bulgaria's Central Cooperative Bank (CCB) said that its consolidated bet profit grew sharply to 23.6 million levs ($13.2 million/12.1 million euro) in the first half of 2019 from 14.5 million levs in the same period of 2018.

CCB's net interest income rose to 63.3 million levs in the January-June period of 2019 from 58.2 million levs in the comparable period of 2018, the lender said in an interim financial statement on Friday.

Net fee and commission income edged down to 23.7 million levs in the review period from 24.1 million levs the year before.

Net gains from transactions with securities more than tripled to 3.6 million levs in January-June from 1.1 million levs in the first half of 2018.

The bank's operating expenses increased to 66.2 million levs in the first six months of the year from 64.8 million levs in the like period of 2018.

CCB's assets rose to 5.98 billion levs at the end of June from 5.87 billion levs at the end of 2018.

The lender's loans and advances to customers other than banks edged up to 2.49 billion levs at the end of June from 2.46 billion levs at the end of last year, while deposits from customers other than banks increased to 5.34 billion levs from 5.26 billion levs.

As at 10:50 CET on Monday, CCB shares traded 0.63% higher at 1.605 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

 

Compare