Business News

SID Bank Profit Narrows

Ljubljana, 29 November (STA) - SID banka, the state-owned export and development bank, saw net profit narrow by two-thirds in the January-September period, to EUR 3.5m. Group net profit dropped 84% year-on-year to EUR 1.7m, the bank said Friday.

Net interest revenue dropped by almost a fifth at group level to EUR 43.9m. Provisions and impairments meanwhile dropped 4% over the year before to EUR 53.3m.

Total assets were down almost 7% to EUR 3.8bn, with the volume of outstanding loans decreasing by 16% to EUR 3.2bn.

The bank's capital adequacy improved by almost 1.8 percentage points to 16%.

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