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Nov 07, 2017 16:46 EEST
November 7 (SeeNews) - Serbia's Expobank Beograd, a subsidiary of Czech lender Expobank CZ, said it has swung to a profit of 1.7 billion dinars ($16.6 million/14.3 million euro) in the first half of 2017, from a loss of 163.9 million dinars in the prior-year period.
Expobank's net interest income fell to 283 million dinars from 333 million dinars, while net fee and commission income declined to 88 million dinars from 97 million dinars, according to Expobank Beograd's H1 2017 financial statement posted on the website of the country's central bank, NBS.
The bank recorded no net expenses for impairment of financial assets and credit risk off-balance sheet items in the first half of 2017, versus 71.4 million dinars cost in the like period of last year.
Expobank CZ said in March it has completed the purchase of Serbia's Marfin Bank from Cyprus Popular Bank Public (CPB) for an undisclosed sum. Marfin Bank will be renamed to Expobank, the Czech lender said back then.
Expobank Beograd'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 Expobank's financial performance (in millions of dinars unless otherwise stated):
(1 euro = 118.633 dinars)
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