October 20 (SeeNews) - Serbia's Direktna Banka Kragujevac pared its loss to 138.1 million dinars ($1.37 million/1.16 million euro) in the first half of 2017, from 152.6 million dinars in the prior-year period, data from the country's central bank, NBS, shows.
Direktna Banka's net interest income rose to 193.9 million dinars from 105.6 million dinars, while net fee and commission income grew to 140.6 million dinars from 128.6 million dinars, according to the financial statement of the lender for the first half of 2017, posted on the website of NBS.
Net expenses for impairment of financial assets and credit risk off-balance sheet items increased to 54.9 million dinars in the first half of 2017 from 12.2 million dinars in the like period of last year.
The bank's loan portfolio amounted to 4.1 billion dinars, while deposits totalled 9.2 billion dinars at the end of the first half of 2017.
Following are details on Direktna Banka's financial performance (in millions of dinars):
|
H1'17 |
H1'16 |
Deposits |
9.186 bln |
6.577 bln |
Loans |
4.133 bln |
2.893 bln |
Impairment costs |
54.9 |
12.2 |
Net fee and commission income |
140.6 |
102.9 |
Net interest income |
193.9 |
105.6 |
Net profit |
138.1 |
152.6 |
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 Slovenian Nova Kreditna Banka Maribor (NKBM) in February 2016.
Greece's Piraeus Bank said earlier this week it agreed to sell its Serbian banking and leasing operations to Direktna Banka for a cash consideration of between 58 million euro ($68.1 million) and 61 million euro.
(1 euro = 119.204 dinars)