PODGORICA (Montenegro), July 27 (SeeNews) – Montenegro’s Crnogorska Komercijalna Banka [MNG:CKBP], a unit of Hungarian financial services group OTP, said on Tuesday it posted a consolidated net profit of 9.4 million euro ($11. million) for the first half of this year.
Net interest revenue amounted to 23.4 million euro in the first six months of 2021, whereas net revenue from commissions and fees stood at 4.4 million euro, CKB said in a consolidated financial statement for January-June 2021 filed to the Montenegro Stock Exchange.
It did not provide comparative figures for the first half of 2020, but said in the same statement said that it closed last year with a net profit of 2.6 million euro, net interest income of 27.9 million euro and net income from commissions and of 6.8 million euro.
CKB announced in December last year that it successfully completed the integration of Podgoricka Banka.
In July 2019, CKB completed the acquisition of a 90.55% stake in Societe Generale Banka Montenegro for 35.6 million euro ($43.3 million) and renamed the lender to Podgoricka Banka. Back then, OTP said it plans to merge CKB and Podgoricka Banka into a single unit, which will become the largest bank in Montenegro in terms of the ATM network, the number of branches, and loan and deposit portfolios.
($ = 0.846 euro)
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