Hrvatska Postanska Banka's net profit falls to 83.6 mln euro in 2023

In 2023, operating income grew to 207.2 million euro from 133.3 million euro a year earlier, HPB said in a consolidated unaudited report filed to the Zagreb bourse.

In 2022, the bank's net profit was boosted by 135.2 million euro attributed to the recognition of badwill resulting from the acquisition of Sberbank d.d., the local unit of Russia's Sberbank. Sberbank d.d. was renamed Nova Hrvatska Banka and its merger with HPB was completed on July 3.

In 2023, HPB’s interest income reached 192.9 million euro from 105.3 million euro. Income from fees and commissions declined to 76.5 million euro from 78.2 million euro.

Administrative costs went up to 91.9 million euro last year from 86.7 million in 2022.

Shares of HPB traded 3.33% lower on Wednesday at 232 euro day by 1501 local time on the Zagreb Stock Exchange.

($ = 0.923 euro)