Business News

Abanka Vipa Ends 2009 with EUR 22.9M Profit

Ljubljana, 11 February (STA) - Abanka Vipa, Slovenia's third largest bank, posted a net profit of EUR 22.9m for 2009, up 3.1% over the year before but 36.8% below plans, according to unaudited and unconsolidated results released Thursday.

Total assets rose 18% year-on-year to EUR 4.5bn, giving the bank a 8.8% market share by total assets.

"Although our results are not matching the pre-crisis performance, we have achieved excellent results in dire market conditions," the management said in a statement.

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