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N. Macedonia's TTK Banka grows 9-mo net profit on lower impairments

Author Mario Tanev
N. Macedonia's TTK Banka grows 9-mo net profit on lower impairments Photo: TTK Banka / All rights reserved.

SKOPJE (North Macedonia), November 7 (SeeNews) - North Macedonia'-based lender TTK Banka [MSE:TTK] said that its net profit grew to 91.4 million denars ($1.6 million/1.5 million euro) in the first nine months of 2019 from 60.7 million denars in the same period of last year, backed by lower impairments.

TTK Banka's net non-financial asset impairments plunged to just 1.4 million denars in the January-September period of the year from 54.1 million denars in the comparable period of 2018, the company said in an interim financial statement earlier this week.

Net financial asset impairments rose to 57.3 million denars in the review period from 48.6 million denars the year before.

The lender's net interest income edged down to 199.3 million denars in the first three quarters of 2019 from 202.9 million denars in the prior-year period, while net fee and commission income grew to 102.3 million denars from 91.6 million denars.

The bank's other operating income dropped to 63.2 million denars from 87.2 million denars the year before.

TTK Banka's assets amounted to 8.56 billion denars at the end of September, up from 8.29 billion denars at the end of 2018.

Loans and advances to customers other than banks increased to 4.98 billion denars at the end of September from 4.75 billion denars at the end of last year, while deposits from customers other than banks rose to 7.07 billion denars from 6.80 billion denars.

(1 euro = 61.56 denars)

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