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N. Macedonia's Stopanska Banka Skopje 9-mo net profit drops on higher impairments

Author Mario Tanev
N. Macedonia's Stopanska Banka Skopje 9-mo net profit drops on higher impairments Photo: Stopanska Banka Skopje / All rights reserved.

SKOPJE (North Macedonia), November 5 (SeeNews) - North Macedonia-based lender Stopanska Banka Skopje [MSE:STB] said that its net profit dropped to 1.73 billion denars ($31.2 million/28.1 million euro) in the first nine months of 2019 from 2.59 billion denars in the same period of 2018, dragged down by a rise in impairments.

Stopanska Banka Skopje's net financial asset impairments soared to 593.7 million denars in the January-September period of 2019 from 70.4 million denars in the comparable period of last year, the company said in an interim financial statement.

The lender's net interest income fell to 2.71 billion denars in the review period from 2.83 billion denars the year before, while net fee and commission income rose to 846.7 million denars from 750.9 million denars.

Net foreign exchange gains decreased to 63.8 million denars from 78.7 million denars in the prior-year period, while other operating income declined to 318.5 million denars from 324.1 million denars a year earlier.

Stopanska Banka Skopje's assets amounted to 96.7 billion denars at the end of September, up from 91.8 billion denars at the end of 2018.

Loans and advances to clients other than banks rose to 64.5 billion denars at the end of September from 63.7 billion denars at the end of last year, while deposits from customers other than banks increased to 80.6 billion denars from 76.0 billion denars.

(1 euro = 61.53 denars)

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