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N. Macedonia's Stopanska Banka Bitola reports drop in 9-mo net profit

Author Mario Tanev
N. Macedonia's Stopanska Banka Bitola reports drop in 9-mo net profit wrangler/Shutterstock.com

SKOPJE (North Macedonia), November 15 (SeeNews) - North Macedonia's Stopanska Banka Bitola [MSE:SBT] said that its net profit dropped to just 772,000 denars ($13,800/12,500 euro) in the first nine months of the year from 61.5 million denars in the same period of 2018.

Stopanska Banka Bitola's net interest income fell to 222.3 million denars in the January-September period of 2019 from 257 million denars in the comparable period of last year, the lender said in an interim financial statement earlier this week.

The bank's net fee and commission income decreased to 79.7 million denars in the review period from 86.5 million denars the year before.

The company's result was also hurt by a jump in net financial asset impairments, which more than doubled to 76.9 million denars from 34 million denars in the prior-year period.

Stopanska Banka Bitola's assets increased to 11.96 billion denars at the end of September from 1035 billion denars at the end of 2018, as cash and cash equivalents rose to 4.61 billion denars from 2.64 billion denars.

Loans and advances to customers other than banks fell to 6.40 billion denars at the end of September from 6.72 billion denars at the end of last year, while deposits from customers other than banks grew to 9.85 billion denars from 7.80 billion denars.

(1 euro = 61.55 denars)

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