Business News

NKBM Group Almost Quadruples Operating Profit in H1

Maribor, 31 August (STA) - The group around the Maribor-based NKBM bank posted a gross operating profit of EUR 25.3m in the first half of 2010, which is almost four times more than in the same period last year, NKBM chairman Matjaz Kovacic told the press on Tuesday.

According to Kovacic, the group's gross operating profit in the period represents slightly more than 60% of the plan for this year.

The management of Slovenia's second biggest bank told reporters in Maribor that the group's total assets increased in the first half of 2010 by EUR 135.5m or 2.3% to stand at EUR 5.921bn at the end of June.

Kovacic said that the group would reach this year the milestone of EUR 6bn in total assets, adding that by the end of June the group had already realised 80.7% of the planned growth of total assets for 2010.

The NKBM bank meanwhile reported EUR 15m in operating and EUR 10.2m in net profit for the first six months of 2010, which is almost two-thirds of the planned net profit for the entire 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.

Board member Manja Skernisak pointed to the fact that, compared to the same period last year, the NKBM doubled the amount of granted housing loans and increased its market share in terms of loans by 0.3 of a percentage point in the first half of 2010.

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