August 10 (SeeNews) - The consolidated after-tax profit of Bulgaria's DSK Bank fell by an annual 5% to 24.1 billion Hungarian forints ($85.6 million/74.7 million euro) in the first half of 2018, following a drop in revenue, DSK's parent, Hungarian financial services group OTP, said on Friday.
DSK Bank's total income decreased by 3% on the year to 52.4 billion forints in the first six months of 2018, as net interest income fell 6% to 34.4 billion forints, OTP said in an interim financial statement.
The Bulgarian lender's net fee and commission income rose 7% year-on-year to 14.3 billion forints, while other net non-interest income declined 6% to 3.7 billion forints.
DSK Bank's operating expenses increased 7% to 23.8 billion forints in the review period.
Gross customer loans totalled 1.18 trillion forints at the end of June, up 12% compared to the end of 2017. Deposits from customers increased 9% compared to the end of last year, reaching 1.77 trillion forints at the end of June.
The bank's total assets amounted to 2.10 trillion forints as the end of June, 9% more than at the end of 2017.
DSK Bank was Bulgaria's second largest lender in terms of assets at the end of June, according to Bulgarian central bank data.
Last week, OTP said it has signed agreements to buy majority stakes in the Albanian and Bulgarian units of French banking group Societe Generale. In Bulgaria, OTP will acquire 99.74% of Societe Generale Expressbank and other local subsidiaries held by the Bulgarian unit of the French banking group, while in Albania it will purchase 88.89% of Banka Societe Generale Albania.
(1 euro = 322.74 Hungarian forints)
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