February 12 (SeeNews) - Serbian online bank Telenor Banka, a subsidiary of Norwegian telecommunications group Telenor, recorded a loss of 773.4 million dinars ($8 million/6.5 million euro) in the first nine months of 2017, versus a loss of 936.6 million dinars in the like period of the previous year.
The bank's net interest income nearly doubled to 331.8 million dinars in January-September 2017 from 157.5 million dinars in the prior-year period, while net fee and commission income rose 22.3% on the year to 61.5 million dinars, according to Telenor Banka's nine-month financial statement posted on the website of Serbia's central bank, the NBS.
Telenor Banka 's net expenses for impairment of financial assets and credit risk off-balance sheet items totalled 56 million dinars in January-September, higher than the impairment costs of 26.8 million dinars in the like period of 2016.
The bank's loan portfolio amounted to 6.6 billion dinars, while deposits totalled 9.8 billion dinars at the end of September 2017.
Following are details on Telenor Banka 's financial performance (in millions of dinars, unless otherwise stated):
|
9-mo'17 |
9-mo'16 |
Loans |
6.611 bln |
3.248 bln |
Deposits |
9.795 bln |
7.933 bln |
Net fee and commission income |
61.5 |
50.3 |
Net interest income |
331.8 |
157.5 |
Net loss |
773.4 |
936.6 |
Telenor launched Telenor Banka in September 2014, as the first mobile and online bank in Serbia, aimed to offer state-of-the-art and innovative online financial services to its customers in the country. After more than three years of operation, Telenor Banka has some 350,000 customers.
(1 euro = 118.355 dinars)