Bosnias Sparkasse Bank posts EUR 3.3mn profit in 2011.

By bne IntelliNews April 3, 2012
Sarajevo-based Sparkasse Bank posted a BAM 6.4mn (EUR 3.3mn) profit in 2011, daily Dnevni Avaz quoted the banks director, Sanel Kusturica, as saying. Kusturica said that the bank raised its business efficiency last year and optimised its costs. Sparkasse Bank implemented a tight credit risk control last year, maintaining good liquidity and capital position, therefore all preconditions for continuing to be very active on the market in 2012 are in place, he added. Business crediting rose almost 24% last year, while total loans of more than BAM 300mn were extended to businesses and households. Kusturica said that 1,200 new credits were extended to almost 1,000 new clients from the small and medium-sized business. Total deposits rose nearly 28% last year as the most significant increase was registered in household savings, which jumped 33% in comparison with 2010. Sparkasse Banks assets rose 5% on the year to some BAM 816mn at end-2011, while its capital increased 20% in comparison with 2010, Kusturica but provided no figure. Austrias Steiermaerkische Verwaltungssparkasse controls 73% of the Bosnian lender, Erste Bank owns 25% and the remaining 2% belong to the employees.

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