Business News

Banka Celje Reports Slump in Half-Year Profit

Celje, 22 August (STA) - Banka Celje, a bank affiliated with the NLB group, generated EUR 3.4m in half-year gross profit, which is down 62% on the same period last year when the bank reported nearly EUR 9m in pre-tax profit.

The operations were heavily affected by impairments and provisions, which rose by 10.8% to EUR 13.6m year-on-year, reads a release issued after the bank's supervisors reviewed the half-year operating report on Monday.

But the bank also said that it had retained a stable capital position with the capital adequacy ratio at 14.66% and Tier 1 capital ratio at 10.96%.

The bank applied structural changes to operations as a result of which its total assets decreased by 4.2% to EUR 2.49bn, but the share of loans to the non-banking sector rose from 66% to 71%.

The biggest owner of the Celje-based bank is NLB, Slovenia's biggest bank, which is however trying to offload its 41% stake in order to increase its capital strength.

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