Erste Bank earns RSD 1.1 billion in 2016

The net profit of Erste Bank Serbia in the first half of 2016 amounted to RSD 1.1 billion, which is 51.5% higher than in the same period last year. The bank’s balance sum increased by 7.9% from RSD 117.5 billion at the end of 2015 to RSD 126.8 billion.

Consumer and micro client lending increased by 9.1% relative to the end of 2015 and amounted to RSD 36 billion, whereas consumer and micro client deposits increased by 6.7% and amounted to RSD 46.6 billion.

The increase of private entity lending compared to late 2015 is 6.9% and amounts to RSD 53 billion, and legal entity deposits are 28.8% lower and amount to RSD 18.9 billion.

Erste Bank’s earnings from interests are higher by 7.8% relative to the same period of 2015 and amount to RSD 2.8 billion, whereas the profit from commissions and fees is lower by 19.8% and amounts to RSD 693.9 million. The bank’s capital adequacy ratio was above the prescribed minimum and amounted to 17.4%.

– We are satisfied with the growth and results achieved in the first half of the year. Also, the increase of the quality of our credit portfolio, partly achieved through the recent sale of non-performing receivables, made for a reduced need for the reservation of assets and contributed positively to the bank’s net profit – said the president of the Executive Board of Erste Bank, Slavko Caric.

He announced that the bank would focus on strengthening, economically and socially, enterprises and individuals with reduced access to sources of financing.

The net profit of Erste Group in the first half of 2016 was EUR 841.7 million, which is the best half-year result in its history.

Erste Bank a.d. Novi Sad

Erste Bank results

Erste Bank profit

Slavko Caric