Serbia's Komercijalna Banka Sees 2009 Net Profit Down 34% to 1.85 Bln Dinars (19.8 Mln Euro)

Komercijalna Banka targets 7.0 billion dinars in 2009 net interest income, it said in a statement on the website of the Belgrade Stock exchange on Monday. 

For the first half of 2009 the bank has posted 870.4 million dinars in net profit and 2.73 billion dinars in net interest income.

Komercijalna sees its 2009 total assets rising to 199 billion dinars from 189.4 billion dinars at end-June, the statement added.

Komercijalna was the second largest lender out of the 34 banks operating in Serbia with 189 billion dinars in total assets at the end of June, data from the country’s central bank showed.

Serbia said earlier this month it will borrow 120 million euro from the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) to raise the capital of Komercijalna Banka. The government in Belgrade is the bank's biggest shareholder.

The bank's shares closed 0.13% higher at 36,783 dinars on the Belgrade Stock Exchange on Monday.

(1 euro=93.1797 Serbian dinars)