November 5 (SeeNews) - Serbia's Direktna Banka Kragujevac said its net profit declined to 258.7 million dinars ($2.5 million/2.2 million euro) in the first nine months of 2018, from almost 2 billion dinars loss in the prior-year period.
Direktna Banka's net interest income rose to 953.6 million dinars from 506.7 million dinars, while net fee and commission income rose to 262.5 million dinars from 191.2 million dinars, according to the interim financial statement of the lender for the first nine months of 2018, posted on its website.
The bank's loan portfolio amounted to 14.4 billion dinars, while deposits totalled 22.9 billion dinars at the end of September 2018
Following are details of Direktna Banka's financial performance (in millions of dinars unless otherwise stated):
|
Jan-Sep'18 |
Jan-Sep'17 |
Loans |
14.374 bln |
17.044 bln |
Deposits |
22.911 bln |
21.827 bln |
Net fee and commission income |
262.5 |
191.2 |
Net interest income |
953.6 |
506.7 |
Net profit |
258.7 |
1,984.7 |
In February 2017, Direktna Banka acquired the entire capital of BNP Paribas' subsidiary Findomestic banka Beograd. Direktna Banka was established after Serbian entrepreneurs Andrej Jovanovic and Bojan Milovanovic acquired Serbian KBM banka from Slovenia's Nova Kreditna Banka Maribor (NKBM) in February 2016.
Greece's Piraeus Bank agreed in October 2017 to sell its Serbian banking and leasing operations to Direktna Banka for a cash consideration of between 58 million euro ($66 million) and 61 million euro. The transaction was completed in April 2018.
(1 euro = 118.345 dinars)