Business News

Probanka More than Doubles Profit in Q1

Maribor, 23 April (STA) - Probanka, a small Maribor-based private bank, posted a net profit of EUR 1.6m for the first quarter of 2010, 117% more than in the first three months of 2009. Total assets grew 8% year-on-year to EUR 1.3bn, the bank said Friday.

Compared to the end of 2009, total assets increased 2.2%, while the total assets of the entire banking system in Slovenia shrunk by 1.5% in the same period.

The bank's loans portfolio expanded by 0.3% to EUR 908m. EUR 1.4m was set aside for write-downs and provisions, down 28.6% year-on-year.

In 2009, Probanka posted a net profit of EUR 5.5m, which pushed its accumulated profit to EUR 16.3m.

Probanka is the 12th biggest bank in Slovenia with a market share by assets of 2.57%.

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