Novi Sad’s Erste Bank had profit of RSD 742 million at the end of the first quarter of 2017, an increase of 41.6% compared to the corresponding period of 2016.
Retail loans and loans to micro clients increased by 4.3% compared to the end of 2016, amounting to RSD 39.3 billion, whereas retail and micro client deposits increased by 1.3% to RSD 51.6 billion, says the press release by Erste Bank.
Loans to legal entities dropped by 1.5% compared to the end of 2016, amounting to RSD 58.5 billion, whereas deposits increased by 19.8% to RSD 28.6 billion.
Interest income rose by 10.8% compared to the corresponding period of 2016 to RSD 1,536 million, whereas fee income grew by 4.4% to RSD 349 million, the bank reported.
The balance sum increased by 1.5% from RSD 142.9 billion at the end of 2016 to RSD 145.1 billion at the end of the first quarter of 2017.
The capital adequacy ratio is 19.67%, and the share of NPLs at the end of the first quarter of 2017 is 5.8%.
– In the first quarter, we recorded a continuation of last year’s positive trends, especially in the retail and entrepreneur client sector. In this segment, the most important role was played by housing loans, and we believe that the demand will continue increasing in the coming period on the account of their growing less expensive. A considerable increase of the net profit is down to increased loans in the past period and the positive effect of the reduction of the NPL ratio to 5.8%, which is one of the lowest ratios in the market – said Slavko Caric, president of the Executive Board of Erste Bank.
At the same time, the profit of Austria’s Erste Group in the first quarter of 2017 amounts to EUR 262.2 million, whereas total equity not including AT1 instruments rose to EUR 16.4 billion.
Follow the news, tenders, grants, legal regulations and reports on our portal.
Register for our daily business bulletin, which is sent to your email address at the end of each work day.
Full information is available only to commercial users-subscribers and it is necessary to log in.
Test for free!
Full information is available to commercial users-subscribers only.