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N. Macedonia's TTK Banka grows H1 net profit on lower impairments

Author Mario Tanev
N. Macedonia's TTK Banka grows H1 net profit on lower impairments wrangler/Shutterstock.com

SKOPJE (North Macedonia), August 6 (SeeNews) - North Macedonia's TTK Banka [MSE:TTK] said that its net profit grew to 56.7 million denars ($1 million/919,000 euro) in the first half of 2019 from 32.0 million denars in the same period of 2018.

The bank's improved performance was mainly due to a plunge in net non-financial asset impairments to just 512,000 denars in the first six months of 2019 from 51.1 million denars in the corresponding period of last year, figures from the company's interim financial statement showed.

TTK Banka's net interest income fell to 131.8 million denars in the January-June period of 2019 from 135.5 million denars in the comparable period of 2018.

The lender's net fee and commission income grew to 65.6 million levs in the review period from 60.4 million levs the year before.

Other operating income dropped to 52.1 million denars in the first six months of the year from 79.7 million denars in the like period of 2018.

Loans and advances to customers other than banks increased to 4.91 billion denars at the end of June from 4.57 billion denars a year earlier, while deposits from customers other than banks grew to 6.81 billion denars from 6.37 billion denars.

TTK Banka's total assets rose to 8.20 billion denars at the end of the first half of 2019 from 8.00 billion denars a year earlier.

(1 euro = 61.7292 denars)

 

 

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