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Sep 11, 2007 15:46 EEST
September 11 (SeeNews) - The unit of Austrian Hypo Alpe-Adria-Bank operating in Bosnia's Muslim-Croat Federation reported a first-half net profit of 15.025 million marka ($10.6 million/7.7 million euro), up almost two and a half times from 6.064 million marka it made during the same period last year.
The surge in profit resulted from the much faster rise in the bank’s revenue compared to the rise of its costs, data showed.
Following are details from Hypo Alpe-Adria-Bank d.d Mostar's unaudited half-year income statement posted on the bank's website (in millions of Bosnian marka):
The bank's assets totalled 1.868 billion marka at the end of June, up from 1.698 million marka a year earlier.
Hypo Alpe-Adria-Bank d.d Mostar has 35 outlets across the Muslim-Croat Federation, which together with the Serb Republic forms war-divided Bosnia.
Hypo Alpe-Adria-Bank AG has another subsidiary in Bosnia, Hypo Alpe-Adria-Bank a.d. Banja Luka, which operates in the Serb Republic. Its first-half net profit fell 19% on the year to 4.752 million marka.
Bosnia's largest lending institution by assets at the end of last year was another Austrian bank, Raiffeisen Bank, whose assets totalled 2.495 billion marka at the end of December.
Bosnia has around 30 commercial banks that serve a market of some 3.8 million people.
(1 euro=1.95583 Bosnian marka)
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