March 6 (SeeNews) - Bulgarian lender Central Cooperative Bank (CCB) [BUL:4CF] said that its consolidated net profit dropped to 34.6 million levs ($20 million/17.7 million euro) in 2019 from 52.5 million levs the year before.
The decreased profitability was due to the 19.8 million levs in profit from discontinued operations reported in 2018, versus none in 2019, figures from the company's annual financial statement show.
CCB increased its net interest income to 126.2 million levs last year from 123.1 million levs in 2018, while net fee and commission income grew to 52.3 million levs from 46.6 million levs the year before.
CCB's operating expenses rose by 9.1 million levs to 146.4 million levs last year.
Loans and advances to customers other than banks amounted to 2.66 billion levs at the end of 2019, up from 2.46 billion levs a year earlier. Deposits from customers other than banks increased to 5.70 billion levs from 5.26 billion levs at the end of 2018.
The bank's total assets stood at 6.39 billion levs at the end of last year, up from 5.87 billion levs a year earlier. CCB was Bulgaria's eight largest lender by assets at the end of 2019, according to central bank data.
As at 14:05 CET on Friday, CCB shares traded 4.73% lower at 1.31 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)
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