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N. Macedonia's Ohridska Banka cuts Q1 net profit

Author Mario Tanev
N. Macedonia's Ohridska Banka cuts Q1 net profit Author: The European Bank for Reconstruction and Development (EBRD) / All rights reserved.

SKOPJE (North Macedonia), May 16 (SeeNews) - N. Macedonian lender Ohridska Banka [MSE:OHB] said that its net profit fell to 150.7 million denars ($2.7 million/2.4 million euro) in the first quarter of 2019 from 199.6 million denars in the same period of 2018.

The lender's net interest income decreased to 285.0 million denars in the January-March period of 2019 from 289.5 million denars in the comparable period of last year, Ohridska Banka said in an interim financial statement.

Net fee and commission income rose to 81.6 million denars in the review period from 70.3 million denars a year earlier.

Personnel expenses grew to 92 million denars in the first three months of the year from 79.5 million denars the year before, while net financial asset impairments soared to 115 million denars in the period under review from 39.1 million denars in the same period of 2018.

The bank's assets increased to 40.0 billion denars at the end of March from 39.6 billion denars a year earlier.

Earlier this year, French banking group Societe Generale agreed to sell its 74.53% stake in Ohridska Banka for 2.42 billion denars to Hungarian peer OTP Bank. 

(1 euro = 61.61 denars)

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