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Croatia's KentBank posts almost five-fold rise in pre-tax profit in 2021

Author Annie Tsoneva
Croatia's KentBank posts almost five-fold rise in pre-tax profit in 2021 The management of Croatian lender KentBank: CEO Hasan Ecesoy, and management board members Aleksandra Cvetkovic and Damir Brkic. Photo by KentBank.

ZAGREB (Croatia), January 27 (SeeNews) - Croatia's KentBank, a member of Turkish diversified holding group Suzer, said on Thursday its unaudited pre-tax profit reached 34 million kuna ($5.0 million/4.5 million euro) last year - an increase of 27 million kuna compared to 2020.

The bank's assets reached 3.4 billion kuna at the end of 2021, up 16% on the year, it said in a statement.

KentBank's loan portfolio rose 17% on the year to 1.85 billion kuna in 2021.

Gross loans provided by KentBank to households went up by 34% last year, and its loans to companies increased by 10% compared to 2020. KentBank was the fastest growing bank in Croatia in the first nine months of 2021, just like in the whole of 2020, and even before the official announcement of the business results of Croatian banks for 2021, it remains among the top performers in terms of growth of assets, the lender said.

Deposits with KentBank rose by 19% last year, or by 426 million kuna.

Suzer group took over the Croatian lender in 2011, under its previous name of Banka Brod.

KentBank is focused on serving individuals as well as small and medium-sized companies through its network of 16 offices in the Adriatic country, more than 1,000 cash dispensers and improvement of its internet and mobile banking services.

(1 euro=7.531 Croatian kuna)

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