August 23 (SeeNews) - Slovenia's SKB Group, owned by Hungarian banking group OTP, booked a consolidated net profit of 25.1 million euro ($24.9 million) in the first half of 2022, up 20% year-on-year.
"The better business results are largely the result of the general recovery of the economy after the COVID-19 epidemic, which had a favourable effect on the reduction of risk costs as well as on the increased volume of business with customers," SKB Group said in a statement on Monday.
The SKB Group generated 62.0 million euro of net banking income in the first half of 2022, up 2% on the year, SKB Group said.
Return on equity (ROE) grew by 1.2 percentage points to 11.6% at the end of June, whereas the capital adequacy ratio (ADR) was 14.1%, SKB Group noted.
In the first half of 2022, SKB Group increased its credit portfolio by 10% to 2.889 billion euro, mainly due to high growth in loans to companies and housing loans, the lender noted.
The Hungarian banking group completed the acquisition of SKB Banka from France's Societe Generale Group in December 2019. At the time of the acquisition, SKB Banka was the fourth largest bank in Slovenia with a market share of nearly 9%, OTP said back then.
($ = 1.0061 euro)
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