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Croatia's HPB increases H1 non-cons net profit

Croatia's HPB increases H1 non-cons net profit Source: Hrvatska Postanska Banka

ZAGREB (Croatia), July 24 (SeeNews) - Croatia's Hrvatska Postanska Banka (HPB) [ZSE:HPB] said on Wednesday its first-half non-consolidated net profit rose to 123.5 million kuna ($18.6 million/16.7 million euro), from 94.4 million kuna in the like period last year.

HPB's January-June net interest income grew 4.3% to 262.2 million kuna, while net fee and commission income increased to 95 million kuna from 90.6 million kuna a year earlier, HPB said in a filing to the Zagreb Stock Exchange.

Loans to customers jumped 17% on the year to 14.2 billion kuna, while deposits rose 25.7% to 20.5 billion kuna.

HPB's total assets increased to 23.2 billion kuna at the end of June, from 21.3 billion kuna at the end of last year. 

In April, HPB successfully merged Croatia's Jadranska Banka (JABA). The transaction was completed within a record time span of nine months.

HPB acquired Jadranska Banka by subscribing its 110 million kuna capital increase in July 2018. In February 2019, HPB signed a merger agreement with Jadranska Banka. 

(1 euro = 7.38590 kuna)

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