Business News

Probanka Posts EUR 1.6M Loss in 2010

Maribor, 15 June (STA) - Probanka, a small Maribor-based private bank, generated a net loss of EUR 1.6m in 2010 due to EUR 18.9m in impairments and provisions, which almost doubled compared to 2009. Last year was the fist negative year in the bank's 20-year existence.

Probanka chairman Romana Pajenk told the press on Wednesday that the total value of impairments and provisions in the bank stood at EUR 60.2m, adding that the result "has no influence on the safety and stability of the bank's operations".

Regulatory capital was up from EUR 148m to EUR 156m, while capital adequacy stood at 11.57% at the end of 2010.

The bank is to hold a shareholders' meeting on Thursday, at which the management will propose that the EUR 11.2m of distributable profit remains undistributed.

In the first five months of 2011, Probanka generated a EUR 7.6m gross profit before impairments and provisions, which is 49% of the planned amount.

Pajenk added that the bank was planning a capital injection of up to EUR 16m in the autumn in order to meet the Basel III standard.

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