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Slovenia's 'bad bank' H1 net profit rises

Author Maja Garaca
Slovenia's 'bad bank' H1 net profit rises Author: Ken Teegardin. Licence: Creative Commons.

LJUBLJANA (Slovenia), September 28 (SeeNews) – Slovenia's ‘bad bank’, the Bank Assets Management Company (DUTB), said on Friday it recorded a net profit of 20.4 million euro ($23.6 million) in the first half of 2018, up 19% on the year.

DUTB's assets under management decreased by 7% year-on-year in the first half of 2018, with further reduction being partially offset by still sizeable real estate repossessions, it said in a Ljubljana bourse filing.

Cash generation in the period under review reached 117 million euro, at 5.8% of assets’ transfer value, on track to meeting the 10% statutory target at the end of the year, and was slightly above planned. 

DUTB's cumulative cash generated since inception reached 1.411 billion euro by mid‑year 2018, representing almost 70% of all assets’ transfer value.

($=0.863267 euro)

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