Agrobanka expects profit of about 11m EUR

Agrobanka from Belgrade has announced that is plans to gain profit in amount of 875m RSD (about 11m EUR) in the first half of this year.

According to the six-month business plan published on the web site of the Belgrade Stock Exchange (www.belex.rs), expected incomes in that period amount to 8.57 billion RSD, while expected expenses amount to 7.7 billion RSD.

Projected net profit of Agrobanka has not been announced. Net loss of the bank at the end of the last year amounted to 2.1 billion RSD.

The Management of Agrobanka plans that the balance sum reaches 40 billion RSD at the end of June, which is 14.9% more than at the end of year 2007, and that the capital grows by 4%, to 15.3 billion RSD.

The plan is also that the deposits grow by 17.6%, to total of 21.7 billion RSD, while investments in economy and population should be increased by 13.3%, to 18 billion RSD.

The price of stock of Agrobanka on June 9th amounted to 18,998 RSD, market capitalization reached 13.6 billion RSD, while the return on equity (ROE) for year 2007 was minus 14.15%.