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BANK NEWS

Bank profits up Jan-Feb 2002

BANKS operating in Slovakia reported over Sk1.94 billion in profits in the first two months of 2002, a Sk365 million increase from the same period in 2001. Profitable banks combined for Sk1.96 billion, while loss-makers reduced aggregate profit by Sk26.7 million, according to National Bank of Slovakia (NBS) data.

The aggregate balance of commercial banks was Sk927.3 billion at the end of February, a 9.4 per cent increase from the previous year.

Standard loan volume reached Sk198.1 billion as banks registered Sk40 billion in gross classified claims, 73 per cent of which were covered by provisions.

Commercial banks held Sk258.2 billion in tradeable securities including Sk108.1 billion in investment securities. Banks held Sk119.7 billion in accounts with other commercial banks and kept Sk11.6 billion in cash.

Client deposits of Sk605.8 billion accounted for over 65 per cent of the entire banking sector's liabilities, said NBS representatives March 26.

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