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Bulgaria's CCB reports slight rise in 2019 non-cons net profit

Author Mario Tanev
Bulgaria's CCB reports slight rise in 2019 non-cons net profit Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), February 4 (SeeNews) - Bulgarian lender Central Cooperative Bank (CCB) [BUL:4CF] said that its non-consolidated net profit edged up to 34.8 million levs ($19.7 million/17.8 million euro) in 2019 from 33.7 million levs the year before, backed by a rise in revenue.

CCB increased its net interest income to 117.3 million levs last year from 114.4 million levs in 2018, it said in an annual financial statement.

The lender's net fee and commission income grew to 50 million levs from 44.4 million levs the year before.

CCB's operating expenses rose by 10 million levs to 135.3 million levs last year.

Loans and advances to customers other than banks amounted to 2.44 billion levs at the end of 2019, up from 2.56 billion levs a year earlier. Deposits from customers other than banks increased to 5.42 billion levs from 5 billion levs at the end of 2018.

The bank's total assets stood at 6.11 billion levs at the end of last year, up from 5.62 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 8:55 CET on Tuesday, CCB shares traded 1.32% higher at 1.53 levs on the Bulgarian Stock Exchange, equal to its closing price at the end of 2019.

(1 euro = 1.95583 levs)

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