Business News

Banka Koper Profit Surges 80%

Ljubljana, 27 November (STA) - Banka Koper, a member of the Intesa Sanpaolo group, reported net profit surging 82% in the first nine months of the year to EUR 8.2m despite an overall decline in revenue.

Net interest revenue was down 15.8% year-on-year to EUR 33.4m due to lower Euribor interest, with net fees down 2.4% to EUR 18.1m.

At the same time, expenses were down 5.5% to EUR 33.2m, chairman Giancarlo Miranda told the press in Ljubljana on Wednesday.

Total loans were down 5.7%, but the decline is below the 6.4% contraction for the banking system as a whole.

On the other hand, deposits by non-banking customers rose by a full 13%, taking Banka Koper to fourth place on the deposits market.

At the same time, the share of non-performing loans remained level year-on-year at 11.8%, more than five percentage points below the figure for the entire banking system.

Capital adequacy also improved, to 14.24% from 12.96%, while the Core Tier 1 capital ratio was up 1.44 points to 14.12%.

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