February 22 (SeeNews) - Serbia's Komercijalna banka [BEL:KMBN] said on Thursday it closed 2017 with a pre-tax profit of 7.187 billion dinars ($75 million/61 million euro).
The bank provided no comparative figures but in April it said it had ended 2016 with a loss of 8.063 billion dinars, versus a 6.3 billion dinar loss in the previous year, as net expenses for impairment of financial assets and credit risk off-balance sheet items rose to 14.9 billion dinars from 13 billion dinars.
Last year's profit came on the back of the improved quality of the loan portfolio, the growth of operational profitability, the rationalisation of the branch network and the introduction of new digital services, Komercijalna banka said in a brief statement, in which it also claimed 11% market share in terms of assets.
The capital adequacy ratio (CAR) totalled 27.9% at the end of December, well above the Serbian central bank's 12% minimum requirement, and deposits totalled 1.6 billion euro, Komercijalna banka said.
Komercijalna banka swung to a net profit of 6.9 billion dinars in the first nine months of 2017 from a 1.8 billion dinars loss in the like period of 2016.
(1 euro = 117.925 dinars)
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