Business News

Abanka Ends First Quarter in the Black

Ljubljana, 25 April (STA) - State-owned Abanka bank ended the first quarter of 2014 with a net profit of EUR 515,000, while it recorded a EUR 1.7m net loss in the same period last year.

Abanka, which was nationalised and recapitalised last December, posted an operating profit of EUR 9.55m.

Provisions and impairments topped EUR 8.7m, down 28.4% over the same period last year.

The bank's total assets increased by 0.5% since the end of 2013 to EUR 3.05bn.

Loans to non-banking clients amounted to EUR 1.77bn at the end of March, down 2.4% year-on-year.

On the other hand, household deposits increased by 2.4%, while corporate deposits (excluding the treasury) rose by 23.6%.

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