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Nov 02, 2017 14:29 EEST
November 2 (SeeNews) - Piraeus Bank Beograd, the Serbian unit of Greek lender Piraeus, said on Thursday its profit for the first nine months of 2017 surged to 390.7 million dinars ($3.8 million/3.3 million euro) from 25.9 million dinars in the like period of last year.
The bank's net interest income declined to 1.2 billion dinars from 1.38 billion dinars in January-September 2016, while net fee and commission income fell to 332.7 million dinars from 428.7 billion dinars, Piraeus Bank Beograd said in a financial statement posted on its website.
The bank recorded no expenses for impairment of financial assets and credit risk off-balance sheet items in the first nine months of 2017, versus an impairment cost of 445.4 million dinars in the like period of last year.
Its loan portfolio stood at 37.184 billion dinars, while deposits amounted to 36.206 billion dinars at the end of September.
Greece's Piraeus Bank said last month it agreed to sell its Serbian banking and leasing operations to local lender Direktna Banka for a cash consideration of between 58 million euro ($68.1 million) and 61 million euro.
The bank swung to a net profit of 25.9 million dinars in 2016 from 3.954 billion dinars loss in 2015.
(1 euro = 118.944 dinars)
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