March 8 (SeeNews) - Hungarian financial services group OTP said on Friday the net profit of its Bulgarian unit, DSK bank, fell by 1% year-on-year to 47.1 billion Hungarian forints ($186.9 million/151.1 million euro) in 2017.
The Bulgarian lender's net interest income fell 14% year-on-year to 72.3 billion forints in 2017, while net fee and commission income added 6% on the year to 27.7 billion forints, OTP said in its 2017 financial report.
DSK's operating expenses increased 10% year-on-year to 46.8 billion forints last year.
The lender's operating profit fell 12% to 61.5 billion forints.
Provisions for possible loan losses declined 47% to 9.4 billion forints in 2017.
DSK bank was the second largest lender in Bulgaria in terms of assets at end-January, according to Bulgarian central bank data.
In the region of Southeast Europe OTP is also present in Croatia, Romania, Serbia and Montenegro.
(1 euro=311.705 forints)
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