NLB Montenegrobanka's net profit halves to EUR 0.117mn in H1 2011.

By bne IntelliNews August 8, 2011
Commercial bank NLB Montenegrobanka reported net profit of EUR 0.117mn in the first half of 2011, down 55.7% y/y, according to the preliminary results posted on the website of the securities commission. The bank's net interest income increased by 13.1% y/y to EUR 10.75mn and net income from fees and commissions declined slightly (by 1.9% y/y) to EUR 3.2mn. Total assets dropped by 4.1% y/y to EUR 522mn. Loans to clients constituted 80.7% of total assets and advanced by 3.6% as compared to the same period previous year. On the liabilities side, deposits added 7.2% y/y in Jan-Jun and covered 0.83% of loans. NLB Montenegrobanka is majority controlled by Slovenian lender NLB.

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