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Bulgaria's CCB grows 2018 cons net profit backed by discontinued operations

Author Mario Tanev
Bulgaria's CCB grows 2018 cons net profit backed by discontinued operations wrangler/Shutterstock.com

SOFIA (Bulgaria), March 14 (SeeNews) - Bulgaria's Central Cooperative Bank (CCB) [BUL:4CF] said that its consolidated net profit rose to 54.1 million levs ($31.3 million/27.7 million euro) in 2018 from 36.8 million levs the year before.

The rise was a result of profit from discontinued operations, which amounted to 21 million levs last year versus none in 2017, CCB's financial statement, published earlier this week, showed.

The lender's net interest income declined to 123.1 million levs in 2018 from 128.0 million levs in 2017.

Net fee and commission income edged down to 46.6 million levs in 2018 compared to 48.2 million levs a year earlier.

The bank's operating expenses amounted to 136.1 million levs last year, slightly down from 136.6 million levs in 2017.

CCB's assets stood at 5.87 billion levs at the end of 2018, up from 5.66 billion levs a year earlier.

CCB was Bulgaria's eight largest lender by assets at the end of January, according to central bank data.

(1 euro = 1.95583 levs)

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