April 7 (SeeNews) - North Macedonia-based lender Silk Road Bank said on Wednesday that its net profit was flat at 44.3 million denars ($853,000/717,600 euro) in 2020.
Silk Road Bank's net interest income grew to 211.5 million denars last year from 194.7 million denars in 2019, the bank said in an annual financial statement filed with the bourse in Skopje.
Net fee and commission income dropped to 56.1 million denars in 2020 from 73.9 million denars the year before.
Staff expenses rose to 106.1 million denars in 2020 from 105.6 million denars a year earlier, while amortisation costs fell to 21 million denars from 23.9 million denars.
Silk Road Bank was established in 1993 under the name Credit Bank. The lender was acquired by Greece's Alpha Bank in 2000, and renamed to Alpha Bank Skopje. In 2016, Swiss investor Silk Road Capital acquired the lender from Greece's Alpha Bank, and renamed it to Silk Road Bank.
(1 euro = 61.72 denars)