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N. Macedonia's Centralna Kooperativna Banka turns to 9-mo net loss

Author Mario Tanev
N. Macedonia's Centralna Kooperativna Banka turns to 9-mo net loss wrangler/Shutterstock.com

SKOPJE (North Macedonia), November 21 (SeeNews) - North Macedonia-based lender Centralna Kooperativna Banka [MSE:CKB] said that it turned to a consolidated net loss of 6 million denars ($108,000/98,000 euro) in the first nine months of 2019 from a net profit of 6.3 million denars in the same period of 2018.

Centralna Kooperativna Banka's result for the period was hurt by net financial asset impairments, which increased to 37.1 million denars, compared to 17.1 million denars the year before, figures from the company's interim financial statement showed.

Net interest income rose to 206 million denars in the January-September period of the year from 201 million denars in the comparable period of last year, while net fee and commission income grew to 56.4 million denars from 51.9 million denars.

Personnel expenses edged up to 115.8 million denars in the review period from 113.1 million denars a year earlier, while other operating expenses increased to 109 million denars from 105.2 million denars.

The bank's assets amounted to 9.95 billion denars at the end of September, up from 9.21 billion denars at the end of 2018.

Loans and advances to customers other than banks grew to 6.65 billion denars at the end of September from 6.33 billion denars at the end of last year, while deposits from customers other than banks increased to 8.32 billion denars from 7.77 billion denars.

(1 euro = 61.53 denars)

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