November 28 (SeeNews) - Slovenia's SKB Group, owned by Hungarian banking group OTP, recorded a consolidated net profit of 47.0 million euro ($48.8 million) in the first nine months of 2022, up 35.7% year-on-year.
"The development of the business result in 2022 was significantly influenced by the net release of impairments and provisions, while the SKB Group maintained its operating profit at the last year’s level," the lender said in a statement posted on its website.
The SKB Group generated 94.7 million euro of net banking income in the first nine months of 2022, up 3.8% on the year, it said.
Return on equity (ROE) grew by 3.3 percentage points to 14.4% at the end of September, SKB Group noted.
In the first nine months of 2022, SKB Group increased its credit portfolio by 14% to 2.998 billion euro, chiefly due to the increased volume of newly approved corporate deals and the increased volume of newly approved housing loans, the lender noted.
The Hungarian banking group completed the acquisition of SKB Banka from France's Societe Generale Group in December 2019. At the time of the acquisition, SKB Banka was the fourth largest bank in Slovenia with a market share of nearly 9%, OTP said back then.
($ = 0.96341 euro)
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