May 10 (SeeNews) - North Macedonia's Centralna Kooperativna Banka [MSE:CKB] said that its net profit grew 69% year-on-year in the first quarter, reaching 2.5 million denars ($49,100/40,300 euro).
The improvement in the bottom line was driven by a increase in the net fee and commission income to 24.8 million denars, compared with 18.6 million denars in the first quarter of last year, the bank said in an interim financial statement filed with the Skopje bourse.
Net interest income ticked up 1.1% on the year to 69.3 million denars in the quarter under review.
Net foreign exchange gains came in at 1.5 million denars in January-March, down 52% on an annual comparison basis. Other operating income dropped 20% to 1.7 million denars.
The bank's assets amounted to 10.64 billion denars at the end of March, little changed from 10.57 billion denars at the end of 2020.
Loans and advances to customers other than banks inched up to 7.25 billion denars at the end of March from 7.18 billion denars at the end of last year, while deposits from customers other than banks edged up to 9 billion denars from 8.9 billion denars.
(1 euro = 61.98 denars)