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Serbia's Mirabank cuts H1 net loss

Author Radomir Ralev
Serbia's Mirabank cuts H1 net loss Source: SNP Construction

BELGRADE (Serbia), September 17 (SeeNews) - Serbia's Mirabank, a unit of United Arab Emirates-based Royal Group conglomerate, reduced its net loss to 111.3 million dinars ($1.0 million/947,000 euro) in the first half of 2019 from 178.3 million dinars in the like period of last year, data from its unaudited interim report showed.

Mirabank's net interest income fell to 70.4 million dinars from 77 million dinars, while net fee and commission income grew to 15 million dinars from 10.2 million dinars, according to the financial statement of the lender posted on its website.

The bank's loan portfolio amounted to 3.0 billion dinars, while deposits totalled 3.5 billion dinars at the end of June 2019.

Following are details on Mirabank's financial performance (in millions of dinars unless otherwise stated):

  H1'19 H1'18
Deposits 3.029 bln 2.082 bln
Loans 3.461 bln 2.862 bln
Net fee and commission income 15.0 10.2
Net interest income 70.4 77.0
Net profit/loss -111.3 -178.3

(1 euro = 117.559 euro)