Business News

DBS Bank Posts EUR 8.8M Loss for 2011

Ljubljana, 26 April (STA) - Deželna banka Slovenije (DBS), one of the smaller Slovenian banks, ended 2011 with a net loss of EUR 8.8m compared to a net profit of EUR 1.4m the year before.

Substantial provisions and write-downs, which more than doubled on the year before, were the main reason for the loss, the bank said on Thursday.

The bank said that despite the difficult situation it preserved a stable capital structure, with its capital adequacy ratio at 11.93% and Tier 1 capital ratio at 10.85%.

Total assets dropped 9% year-on-year to EUR 892.8m, which DBS says was done "with a view to decreasing the costs of borrowing and increasing return on investment".

DBS has a domestic market share by assets of about 2%.

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