Profit of Macedonian banks down 51% y/y in 2009.

By bne IntelliNews April 29, 2010
The aggregate profit of the Macedonian banks in 2009 narrowed by 51% y/y to MKD 1.676bn (EUR 27.3mn), the central bank said in its annual banking supervision report. The combined assets of the commercial banks however grew by 7.1% to MKD 268.5bn. A dominant financial source was deposits, which represented 70% of the assets to MKD 189bn (up 3.8% y/y). The foreign currency deposits soared 21.3% and accounted for 56.2% of all deposits. The banks lending portfolio increased by moderate 3.5% y/y as a result of the global financial crisis, contrasting with the 34.4% y/y increase in 2008. The banks liquidity stood at MKD 67.46bn and according tot eh central bank was at a health level. Capital adequacy was double the legally binding minimum and reached 16.4%.

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