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Skip Navigation LinksHome :: Markets/asset classes :: Emerging Markets :: Central and Eastern Europe :: Aggregate banking sector profit climbs by 21.7% y/y in Jan-Jul.

Tuesday, September 2, 2008

Aggregate banking sector profit climbs by 21.7% y/y in Jan-Jul.





Aggregate banking sector profit climbs by 21.7% y/y in Jan-Jul. The banking sector posted an aggregate gross profit of SKK 15.5bn for the January-July period, rising by 21.7% y/y, the National Bank of Slovakia (NBS) revealed. Net profit was also strongly up by 13.7% y/y for the period. Improved financial performance was based on solid growth of operating revenue. Net interest income shot up by 21.1% y/y to SKK 26.7bn and net income from fees and commissions increased by 12.5% y/y to SKK 7bn. The aggregate loan portfolio of the banking sector stood at SKK 875.2bn at end-July, up by 22.9% y/y. It was only partially financed by a rising deposit base, which rose by just 9.2% y/y to SKK 976bn. Other possible source of financing could be financial capital from foreign parent banks, which could explain the rapid growth of the banking sector external debt on the cash and deposits category. Total asset volume of the banking sector amounted to SKK 1,744bn at the end of the period, rising by 11.4% y/y. The number of commercial banks, operating in the country, rose by one y/y to seventeen while the number of foreign banks’ branches stood unchanged at eight.







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