April 21 (SeeNews) - Piraeus Bank Beograd, the Serbian unit of Greek lender Piraeus, said on Friday it booked a pre-tax profit of 223.8 million dinars ($1.9 million/1.8 million euro) in the first quarter of 2017, significantly exceeding the plan for the period.
In the first quarter of 2016, the bank booked a pre-tax loss of 52.6 million dinars, data published on the website of Serbian central bank, NBS, showed.
The net interest income of Piraeus Bank Beograd rose by 8.4% on the year in the first quarter of 2017, while loan portfolio expanded by 15.4%, the lender said in a statement.
The capital adequacy ratio (CAR) of Piraeus Bank Beograd at the end of the first quarter of 2017 totalled 28.7%, significantly above the 12% threshold set by NBS, the bank said.
Piraeus Bank Beograd said its non-performing loans (NPL) ratio is expected to fall to 11% by the end of 2017.
The bank swung to a net profit of 25.9 million dinars in 2016 from 3.954 billion dinars loss in 2015.
(1 euro = 123.583 dinars)