Business News

NKBM Group More Than Quadruples Profit in Q1

Maribor, 25 May (STA) - The group around Slovenia's second largest bank, the NKBM, generated a EUR 11.3m profit in the first quarter of 2010, which is a 4.5-fold increase compared to the same period last year, the bank said in a press release on Tuesday.

The group's operating profit meanwhile stood at EUR 14.7m, which is 35% of the total profit planned for this year.

The good results in the first quarter are primarily a consequence of higher net interest and fees and lower administrative costs, the NKBM said.

The group's total assets increased in the January-March period by 1.1% to EUR 5.8bn, mainly owing to an increase of total assets of Postna banka Slovenije (PBS).

In terms of total assets, the NKBM and PBS hold a 11% market share in Slovenia.

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