April 30 (SeeNews) - Serbia's Erste Bank Novi Sad recorded a net profit of 790 million dinars ($7.3 million/6.7 million euro) in the first quarter of 2020, up 25.4% on the year, the bank said on Thursday.
Net interest income grew 11.4% to 1.92 billion dinars, while net fee and commission income increased 30.7% to 460 million dinars, Erste Bank Novi Sad said in an e-mailed statement.
The non-performing loan (NPL) ratio of the bank was 1.3% at the end of March, Erste Bank Novi Sad said.
"We expect the effects of the current coronavirus crisis to be most visible in the coming period, when we will know more precisely how affected are the individual industries. It is encouraging that sectors and macroeconomic indicators are not greatly affected. The best example of this is infrastructure projects, where according to official announcements, we see continued activity, and on the other hand indicators such as the number of unemployed did not record great growth," the president of the executive board of the bank, Slavko Caric, said in the statement.
Erste Bank Novi Sad is part of Vienna-based Erste Group, which serves over 16 million clients in Austria, the Czech Republic, Slovakia, Romania, Hungary, Croatia, and Serbia.
(1 euro = 117.580 dinars)
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