N. Macedonia's Stopanska Banka Bitola swings to net loss in 2023

The bank's net fee and commission income rose 34.7% to 451.2 million denars last year, while net interest income fell 12% to 126.6 million denars, it said in an annual financial statement filed to the Skopje bourse on Thursday.

The bank's net impairments of financial assets increased to a negative 334.5 million denars in 2023 from negative 77.1 million denars in 2022.

Stopanska Banka Bitola's assets decreased to 11.1 billion denars at the end of 2023 from 11.7 billion denars a year earlier.

Loans and advances to customers other than banks fell to 5.8 billion denars at the end of last year from 7.1 billion denars at the end of 2022, while deposits from customers other than banks decreased to 9.1 billion denars from 9.3 billion denars.

In September, Stopanska Banka Bitola said it is exploring a merger with Komercijalna Banka, the largest lender in the country.

Stopanska Banka Bitola's shares last traded on the Skopje bourse on February 27, at an average price of 2,550 denars, bourse data showed.

(1 euro = 61.59 denars)