Business News

NKBM Bank Posts EUR 10.2M Net Profit in First Six Months

Maribor, 26 July (STA) - NKBM, Slovenia's second biggest bank, reported EUR 15m in operating and EUR 10.2m in net profit for the first six months of 2010 on Monday. The net profit stands at 59.1% of the 2010 target.

The bank wrote that profit is being dragged down by the recession-caused write-offs and provisions, which were at EUR 27.4m after the first six months, or at 68.5% of the entire sum planned for the year.

The bank's total assets stood at EUR 4.84bn at the end of June, having increased by EUR 49.8m or 1%. The bank's market share in terms of total assets was at 9.2%, down 0.1 percentage points from the end of 2009.

The Maribor-based bank had a capital of EUR 376.4m at the end of June, up 8.6% compared to the end of 2009, while its capital adequacy was at 10.38%.

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