Business News

Gorenjska Banka doubles half-year profit

Kranj, 25 July (STA) - Gorenjska Banka, the Kranj-based bank now in sole ownership of Serbian AIK Banka, nearly doubled net profit in the first half of the year compared to year before, to EUR 22 million.

The bank's total assets increased by 2.2% compared to the end of 2018 to EUR 1.872 billion on 30 June, which the bank attributes mainly to growth in retail deposits, capital and lending.

The bank reported that the proportion of bad loans decreased by 26%. As of 30 June, gross credits amounted to EUR 1.1 billion with the capital adequacy ratio at 15.1%.

Housing loans continue to represent the bulk of retail loans. This year this type of loans increased by 3.3%. Leasing deals increased by 22%.

The pre-tax return on capital increased to 27.4% and the pre-tax return on assets rose to 3%.

Gorenjska Banka is set on continuing its transformation from a regional into a national bank in retail and corporate banking.

Apart from new branch offices in Koper and Maribor, it is planning to open a new office in Novo Mesto and a modern banking centre in the Ljubljana office tower Dunajska Vertikala.

AIK Banka, part of MK Group owned by Serbian millionaire Miodrag Kostić, acquired a stake in Gorenjska Banka in a recapitalisation procedure that ended in early 2016.

It then continued to increase its stake and published a takeover bid in February this year, becoming the sole owner in June after squeezing out small shareholders.

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