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Serbia's Erste Bank Novi Sad net profit rises 39% y/y in Q1

Serbia's Erste Bank Novi Sad net profit rises 39% y/y in Q1 Author: Georgi Georgiev. License: All rights reserved.

BELGRADE (Serbia), April 29 (SeeNews) - Serbian lender Erste Bank Novi Sad recorded a net profit of 1.21 billion dinars ($10.9 million/10.3 million euro) in the first quarter of 2022, up 38.8% on the year, the bank said on Friday.

Net interest income grew 10.1% to 2.38 billion dinars, while net fee and commission income increased 59.9% to 753.3 million dinars, Erste Bank Novi Sad said in an e-mailed statement.

The non-performing loan (NPL) ratio of the bank stood at 1.6% at the end of March, Erste Bank Novi Sad said.

"As the world is still recovering from the crisis caused by the coronavirus pandemic, the consequences of the conflict between Russia and Ukraine are already beginning to impact the global economy. In moments like these, when it is difficult to give any forecasts, I would like to emphasise that the banking sector in Serbia is highly capitalised and liquid and therefore our citizens should not worry about their savings," the president of the executive board of the bank, Slavko Caric, said in the statement.

The total assets of Erste Bank Novi Sad rose to 321 billion dinars as at end-March from 320 billion dinars at the end of 2021.

Erste Bank Novi Sad is part of Vienna-based Erste Group, which serves around 16 million clients in Austria, the Czech Republic, Slovakia, Romania, Hungary, Croatia and Serbia.

(1 euro = 117.838 dinars)

Erste Bank AD Novi Sad is among the biggest banks in SEE, for more reference take a look at Top 100 banks
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