Business News

Impairments Still Affecting Bank Balance Sheets

Ljubljana, 10 April (STA) - Write-downs and provisions continue to impact on the operating results of Slovenian banks, which generated EUR 15.6m in combined pre-tax losses in the first two months of 2011, central bank Banka Slovenije said.

The costs of write-downs and provisions in January and February amounted to EUR 129m, which is 124% more than in the first two months of 2010.

The biggest impairments were generated by large Slovenian-owned banks, Banka Slovenije says in its latest bulletin.

Moreover, the total assets of banks in Slovenia contracted by 1.6%, but this was caused mostly by the state withdrawing its deposits in banks.

Banka Slovenije also registered a EUR 64m drop in borrowing to companies in February, which the central bank attributed to major Slovenian-owned banks.

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