Business News

Gorenjska Banka Exceeds Plans in 2009

Kranj, 11 February (STA) - Gorenjska banka, a small privately-owned bank based in Kranj, reported on Thursday a EUR 41.1m pre-tax profit for 2009, which is 2.3% above plans.

Gorenjska banka's supervisors labelled 2009 a successful year, pointing to the bank's pre-tax return on capital rate of 11.44%. This is substantially above the average of Slovenian banks, which the first estimates put at 3.85%, the bank said.

The total assets of Gorenjska banka stood at EUR 1.937bn at the end of 2009, which was a 6.1% increase over the year before.

The supervisors moreover gave the management green light to continue procedures for a merger with Abanka Vipa. Gorenjska banka currently holds a 9.9% stake in Slovenia's third largest bank but is eyeing an additional 7%.

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