August 26 (SeeNews) - Slovenian lender Abanka said on Friday its consolidated net profit surged to 47.3 million euro ($53.4 million) in the first half of 2016 from 8.6 million euro in the same period last year in a highly competitive environment and amid continued activities related to the merger with Banka Celje.
Abanka’s consolidated net interest income increaseа 7.3% on the year to 40.1 million euro through June, while net fee and commission income fell 7% to 20.1 million euro, the lender said in a financial statement.
The bank's total assets fell by 3% from end-2015 to 3.7 billion euro in June.
In 2013 the Slovenian government had to step in and recapitalise Abanka with 348 million euro whilst also seizing control of the bank. In October 2015, Abanka and its state-owned peer Banka Celje merged. The latter ceased to exist as an independent legal entity, whilst Abanka as the acquiring company and as the universal legal successor entered all legal relations concerning its peer.
($=0.8856 euro)