Slovenian Banks Report 57% Lower Annual Profits | Beta Briefing

Slovenian Banks Report 57% Lower Annual Profits

Source: Beta/SeeBiz
SEE Business / Slovenia | 20.10.20 | access_time 11:17

Money

The combined net profits of commercial banks in Slovenia fell by 57% at the annual level, to EUR185m in the first eight months of 2020, the Slovenian National Bank has said in a statement. 

The worsening of the total economic situation amid the corona virus pandemic, and increasingly lower revenues have impacted the profitability of domestic banks this year, although they will still finish 2020 in the green, the central bank said in its monthly report on the banking sector on Oct. 12. 

Net income from interest declined by 4.3% a year to EUR432m in the observed period, while non-interest revenues fell by 19.4% to EUR347m, SeeBiz has reported. 

The total gross income of banks in Slovenia dropped to 12% per annum to EUR779m in the period between January-August, while operative costs rose by 6.1% to EUR481m. 

The net costs of asset reserves were a negative EUR96m in the period between January and August, from a positive EUR50m in the same period in 2019. 

Total bank assets grew to EUR43.84bn at the end of August, compared with EUR41.21bn at the end of 2019.

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