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Montenegro's Lovcen Banka 9-mo net profit rises

Dec 4, 2023, 1:58:53 PMArticle by Djordje Jajcanin
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December 4 (SeeNews) - Montenegro's Lovcen Banka [MNSE:MFIK] said its net profit increased to 3.2 million euro ($3.5 million) in the first nine months of 2023 from 1.9 million euro in the like period of last year.

Montenegro's Lovcen Banka 9-mo net profit rises
Source: Lovcen Banka

The lender's net interest income came in at 8.3 million euro in January-September, up 15.3% on the year, while net fee and commission income grew to 2.1 million euro from 734,000 euro, Lovcen Banka said in a bourse filing last week.

Following are details on Lovcen Banka's financial performance (in millions of euro):

9-mo'23 9-mo'22
Net fee and commission income 2.050 0.734
Net interest income 8.248 7.209
Net profit 3.217 1.916

$ = 0.9194 euro

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