February 28 (SeeNews) - Croatia's Hrvatska Postanska Banka (HPB) [ZSE:HPB] said on Tuesday it closed 2022 with a consolidated net profit of 962 million kuna ($136 million/ 128 million euro), up from 202.6 million euro in 2021, boosted by badwill from the acquisition of Sberbank d.d., the local unit of Russia's Sberbank.
It was the best ever year in the history of the HPB group, as the organic growth of the group was supported by acquisitions, HPB said in a presentation of its performance in 2022 submitted to the Zagreb bourse.
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HPB acquired Sberbank d.d. on April 14 for a total cash consideration of 71 million kuna and renamed it to Nova Hrvatska Banka (NHB). It also acquired a real estate company, Pronam Nekretnine, in July 2022.
The pre-tax profit of the HPB group rose to 978.8 million kuna in 2022 from 246.4 million kuna in the previous year.
The ratio of non-performing loans to total loans fell to 6.1% from 9.8%.
The overall assets of the group rose to 41.8 billion kuna last year from 27.8 billion kuna in 2021. By end-September, HPB was Croatia’s sixth largest bank with total assets of 41 billion kuna.
Shares of HPB traded flat at 116 euro on the Zagreb bourse intraday on Tuesday.
($ = 0.942 euro)
Hrvatska Postanska Banka d.d. is among the biggest banks in SEE, for more reference take a look at
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