February 27 (SeeNews) - Macedonia's TTK Banka [MSE:TTK] said on Monday its 2016 after-tax profit more than doubled to 83.7 million denars ($1.44 million/1.36 million euro) in 2016 from 38.1 million denars a year earlier.
The improvement came mainly on the back of a rise in other operating income and a drop in other operating expenses, according to the bank's income statement sent to the Macedonian bourse.
Other operating income increased 85% to 137.2 million denars, whereas other operating costs declined 17% to 152.6 million denars.
Net interest income dropped 1.7% to 264 million denars, while net fee and commission income decreased 7% to 145.2 million denars.
Skopje-based TTK Banka was established through the merger of Teteks-Credit bank and Tetovska banka-Tetovo in 2006.
(1 euro = 61.39 denars)