Business News

Slovenian Unicredit Branch Sees Profit Decline

Ljubljana, 06 August (STA) - Unicredit Banka Slovenija posted a net profit of EUR 2m for the first six months of 2013, down 65.5% over the year before, as impairments and provisions rose 7.9% year-on-year to EUR 14.8m.

Net interest revenue declined 12.3% to EUR 24.9m, a result of low interest margins coupled with high interest on deposits, the bank said on Tuesday.

The drop in net interest revenue comes despite a 9.8% year-on-year increase in deposits.

However, loans to non-banking customers declined almost 9% to EUR 2.09bn.

The bank's total assets were at EUR 2.67bn, down 5.2% over the end of 2012.

CEO Stefan Vavti was quoted by the bank as saying that the results are "positive", but he also expressed concern about the prospects for the rest of the year.

"The number of customers falling behind on their payments continues to grow," he said according to a press release from the bank.

Unicredit Banka Slovenija is a subsidiary of the Italian Unicredit group.

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