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Serbia's NLB Komercijalna Banka net profit up eightfold y/y in Q1

Serbia's NLB Komercijalna Banka net profit up eightfold y/y in Q1 Author: Komercijalna Banka. License: All rights reserved.

BELGRADE (Serbia), May 13 (SeeNews) - Serbian blue-chip lender NLB Komercijalna Banka [BEL:KMBN] recorded a net profit of 1.67 billion dinars ($14.8 million/14.2 million euro) in the first quarter of 2022, up 712% on the year, it said on Friday.

NLB Komercijalna Banka's net interest income rose by 4.9% year-on-year to 3.097 billion dinars in the period under review, while the net fee and commission income added 38% to 1.665 billion dinars, the lender said in an interim financial statement filed with the Belgrade Stock Exchange.

Return on assets (ROA) stood at 1.51% at end-March, down from 1.6% from a year earlier, while return on equity (ROE) fell to 9.77% from 10.34% at the end of last year's first quarter.

In late April, Slovenia's Nova Ljubljanska Banka (NLB) [LJE:NLBR] completed the process of integration of the Belgrade-based lender.

NLB completed the acquisition of an 83.23% ordinary shareholding in Komercijalna Banka for 394.7 million euro ($414.7 million) on December 30, 2020, becoming the third-largest banking group in Serbia. In April 2021, NLB raised its stake in Komercijalna Banka to 88% following a tender offer.

(1 euro = 117.566 dinars)

Komercijalna Banka AD Beograd is among the biggest banks in SEE, for more reference take a look at Top 100 banks
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