Montenegro's Hipotekarna Banka posts 29.5% y/y increase in Jan-Sep net profit.

By bne IntelliNews November 23, 2012
Net profit of Montenegro's mid-sized Hipotekarna Banka rose by 29.5% y/y to EUR 1.83mn in the first nine months of 2012, according to the bank's preliminary financial statement published on the central bank website. The bank's net interest income grew by 1.8% y/y to EUR 5.73mn, while the net fees income expanded by 2.1% y/y to EUR 2.4mn. Total assets of Hipotekarna rose by 18.8% on the year to EUR 170.9mn. Loans and lease operations grew by 9.2% y/y to EUR 115.1mn and deposits - by 25.4% y/y to EUR 112.2mn. The ratio of deposits to loans rose to 97.5% at end-September 2012 from 84.9% a year earlier.
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