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Bulgaria's Texim Bank posts flattish H1 cons net profit, grows revenue

Author Mario Tanev
Bulgaria's Texim Bank posts flattish H1 cons net profit, grows revenue wrangler/Shutterstock.com

SOFIA (Bulgaria), August 20 (SeeNews) - Bulgaria's Texim Bank [BUL:5CP] said that its consolidated net profit edged down to 97,000 levs ($55,000/50,000 euro) in the first half of 2019 from 105,000 levs in the same period of 2018.

Texim Bank's net interest income grew to 4.7 million levs in the first six months of the year from 3.8 million levs in the like period of 2018, the company said in an interim financial statement last week.

Net fee and commission income increased to 2.1 million levs in the review period from 1.8 million levs the year before.

The lender's administrative expenses rose to 6.8 million levs in the January-June period of 2019 from 6.2 million levs in the comparable period of last year, while amortisation costs increased to 963,000 levs from 577,000 levs.

Texim Bank's assets amounted to 334 million levs at the end of June, up from 301.9 million levs at the end of 2018.

Loans and receivables rose to 163.4 million levs at the end of June from 145.5 million levs six months earlier, while deposits from clients other than financial institutions grew to 268.5 million levs from 238.4 million levs.

Texim Bank was Bulgaria's smallest lender by assets at the end of June, according to central bank data.

(1 euro = 1.95583 levs)

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