Business News

NKBM Posts EUR 0.5M Net Profit in Q1

Maribor, 20 April (STA) - Slovenia's second largest bank, NKBM, generated EUR 777,000 in operating profit and EUR 536,000 in net profit in the first quarter of 2012, according to the results published on Friday along with the full audited results for last year, showing a EUR 83.9m loss for the bank, mostly due to write-downs.

The bank's total assets decreased in the first three months of this year by 0.7% to EUR 4.78bn.

NKBM's market share stood at 9.6% end of March, which is 0.3 percentage points lower than the figure for the end of last year indicated in the bank's unaudited results for 2011.

Total net interests and commissions of the bank in the first quarter amounted to 22.3% and 22.6% of the annual plans for 2012, standing at EUR 22.5m and 10.8m respectively.

The profit was down in the first three months mostly due to EUR 13.7m in impairments and provisions, which is less than a fifth of the planned write-downs for 2012.

Net loans to the non-banking sector amounted to EUR 3.3bn end of March, down EUR 34.6m from the end of 2011.

The market share of NKBM in crediting the non-banking sector decreased by one point to 10%.

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