October 24 (SeeNews) - Croatia's state-controlled Hrvatska Postanska Banka (HPB) [ZSE:HPB-R-A] said on Tuesday it swung to a non-consolidated net loss of 1.3 million kuna ($203,600/173,100 euro) in January-September from a net profit of 141.1 million kuna in the prior-year period.
The net loss was a result of impairment losses recognised with regards to the bank's exposure to Croatia's ailing food-to-retail concern Agrokor and related parties, without which HPB would have seen a net profit of 150 million kuna in the first nine months of 2017, the bank said in a filing with the Zagreb bourse.
Impairment losses from exposure to Agrokor and its units totalled 193.5 million kuna on September 30, HPB said.
Net interest income increased 5.95% on the year to 399.3 million kuna in the first nine months, while net income from fees and commissions rose 3.6% to 147.0 million kuna.
The bank's assets edged up 0.5% to 19.4 billion kuna at end-September.
The government controls 72% of HPB through various government-owned funds, agencies and the Croatian Post, while the remainder is in the hands of local and international banks.
($=7.50800 euro)