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N. Macedonia's TTK Banka lifts 2019 net profit on lower impairments

Author Mario Tanev
N. Macedonia's TTK Banka lifts 2019 net profit on lower impairments Photo: TTK Banka / All rights reserved.

SKOPJE (North Macedonia), February 18 (SeeNews) - North Macedonia-based lender TTK Banka [MSE:TTK] said that its net profit rose to 108.4 million denars ($1.9 million/1.8 million euro) in 2019 from 101.3 million denars the year before, backed by lower impairments of non-financial assets.

The bank's net non-financial assets impairments plunged to just 1.7 million denars last year from 54.2 million denars in 2018, TTK Banka said in an annual financial statement.

However, net financial asset impairments rose to 61.8 million denars from 42.5 million denars in 2018.

TTK Banka's net interest income fell to 268.1 million denars in 2019 from 270.8 million denars the year before, while net fee and commission income increased to 139.4 million denars from 126.2 million denars.

The bank's assets grew to 8.84 billion denars at the end of last year from 8.29 billion denars a year earlier.

Loans and advances to customers other than banks rose to 5.11 billion denars at the end of 2019 from 4.75 billion denars at the end of 2018, while deposits from customers other than banks increased to 7.13 billion denars from 6.80 billion denars.

(1 euro = 61.46 denars)

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