In the First Half of the Year, the NLB Skupina Group Showed 69.5 Million Euros of Profit after Tax and by 30% Exceeded the Same Period Last Year

In the first half of the year, the NLB Skupina Group showed 69.5 million euros of profit after tax, which is 30% higher than the last year’s figure. In the first half of the year, all banks in this group worked with profit. The NLB Bank increased profit after tax by 78% to 71.2 million euros on an annual level.

Last Friday, financial results of the first half of the year were presented by the Supervisory Board of the NLB Bank, which also approved the development strategy of the Group until 2020, as the NLB representatives reported on the website of the Ljubljana Stock Exchange.

Net non-interest income in the first half of the year equals to 64% of the total Group’s net income or to 156.7 million euros. As compared to the same period last year, this figure decreased by 8%, mainly due to a once occurring negative effect caused by the sale of overdue loans. Net income at the annual level increased by 17% to 86.4 million euros.

The Group’s profit before taxes in key areas — work with the population, with the key, medium and small enterprises in Slovenia and strategic activities of the companies in foreign markets — has increased by 10.5 million euros or 18% as compared to the same period last year.

The volume of overdue loans in the first half of the year decreased by 146.3 million euros and at the end of June amounted to 1.75 billion euros. The share of overdue loans decreased by 1.4% to 17.9%.

 

Source: siol.net