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Bulgaria's Texim Bank swings to cons net profit in Q1

Author Mario Tanev
Bulgaria's Texim Bank swings to cons net profit in Q1 wrangler/

SOFIA (Bulgaria), May 16 (SeeNews) - Bulgaria's Texim Bank [BUL:5CP] said on Wednesday that it has turned to a consolidated net profit of 397,000 levs ($239,500/203,000 euro) in the first quarter of the year from a net loss of 89,000 levs in the same period of 2017.

The lender's net interest income increased to 1.9 million levs in January-March from 1.5 million levs in the like period of last year, Texim Bank said in an interim financial statement.

Texim Bank's net fee and commission income grew to 1.1 million lev in the first three months of the year from 751,000 levs in the corresponding period of 2017.

The bank's administrative expenses increased to 3.0 million levs in the quarter under review from 2.7 million levs a year earlier.

Texim Bank was Bulgaria’s 20-th largest lender by assets at the end of March, according to Bulgarian central bank data.

(1 euro = 1.95583 levs)