Komercijalna Banka reports RSD 2.45 billion consolidated net profit

Komercijalna Banka has published consolidated income statements upon consolidating the operations of the parent company, subordinated banks in Montenegro and the Republic of Srpska, and the domestic investment company KomBank Invest.

However, considering that these subsidiaries have very small influence on the operations of the entire group, results are more or less similar to the earlier published non-consolidated results of Komercijalna Banka.

The consolidated net profit amounted to RSD 2.45 billion, down 38.5 percent from H1 2011, with RSD 10 billion worth of expenses for exchange rate differences. Consolidated assets at the end of the first half of 2012 were at the level of RSD 322.2 billion, up 10 percent from the same period in 2011.

The Komercijalna Banka shares hit their historical minimum of RSD 1,100 on the stock exchange on Wednesday, thus decreasing the market capitalization value of this bank to RSD 9.58 billion (EUR 81.2 million).