Macedonias Sparkasse Banka turns to H1 net profit of EUR 0.4mn.

By bne IntelliNews August 27, 2012
Medium-sized lender Sparkasse Banka Makedonija reported a net profit of MKD 21.6mn (EUR 0.4mn) in H1, reversing a net loss of MKD 212.3mn recorded a year earlier, according to the income statement published on the website of the securities and exchange commission. The interest income increased 9.3% y/y to MKD 521.7mn in H1, while the interest expenses grew 6.5% y/y to MKD 228.5mn. The lenders net interest income thus expanded 11.6% on the year to MKD 293.2mn over the period. The net fee and commission income rose by 15.6% y/y to MKD 53.8mn in H1. The impairment losses narrowed by 72.6% y/y to MKD 78.9mn in the first half of this year. Austria's Steiermarkishe Bank und Sparkassen AG owns a stake of more than 99% in the Macedonian bank. The total assets of the local lender have dropped by 3.2% ytd to MKD 16.76bn as of end-June. On the other hand, the lenders equity has expanded by 76.9% ytd to MKD 2.17bn at end-June, mainly due to a MKD 921mn capital increase completed in February and funded by the Austrian parent.

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