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SKB Bank Group Posts Record Net Profit in 2010

Ljubljana, 17 February (STA) - The SKB banking group, the Slovenian subsidiary of Societe Generale, made a record net profit in 2010, amounting to EUR 28.3m, which is 36.5% more than in the year before, the SKB management told the press in Ljubljana on Thursday.

SKB chairman Andre-Marc Prudent said this was also the best result among all banks in Slovenia in 2010. He attributes the success to the bank's clear business model - universal banking.

He also underlined the bank's clear strategy and long-term conservative and prudent risk management policy. In the last five years, the bank's profits grew by 15% a year on average.

The group's total assets decreased last year by 1.9% to stand at EUR 2.86bn, making it the fifth biggest bank in Slovenia in terms of total assets. SKB has 875 employees, 59 offices and 227,500 clients.

Loans amounted to EUR 2.2bn last year, with loans to households standing at EUR 833.6m, which was 20% more than in 2009. Loans to companies were slightly down to EUR 1.2bn.

The volume of deposits by households, companies and the state stood at EUR 1.4bn, which boosted the bank's market share in this respect to 6.2%.

Prudent announced an even better 2011 in terms of revenues and profits, with commercial management director Borut Vujcic adding that the bank was planning growth in all areas, especially in household loans.

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