CORPORATE NEWS

IRB lost 684.7 m Sk in 1H97

Investičná a Rozvojová Banka (IRB) Inc., Bratislava, incurred a loss of 684.7 million Sk ($19.56 m) in the first six months of 1997, management announced. In the same period last year, it recorded a profit of 3.2 million Sk.

IRB's management attributed this year's loss mainly to restructuring the bank's loan portfolio and the unfavorable development of interest rates on the interbank money market.

IRB created 705.4 million Sk in reserves for bad and doubtful claims, which was 850 [??] percent more compared to the same period in 1996. The bank's total assets dropped to 47.12 billion Sk ($1.35 bn) as of June 30, 5.57 billion Sk less than a year ago. Total loans extended by the end of June reached 36.52 billion Sk, a 2 billion Sk decline.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Dual quality in the EU will be punished

Slovakia’s Agriculture Ministry welcomed the change, calling it a victory.

Food prices keep falling.

Will Volkswagen Bratislava win production of new models within the group?

VW Slovakia is boosting efficiency by 30 percent.

Car production in Volkswagen Slovakia.

Blog: Bringing top business minds and students together

Martin Kardoš of CSI Leasing introduces the Mentor Network Program aimed at pairing young talents with experienced mentors from the business world.

Martin Kardoš, Managing Director CEE at CSI Leasing, at one of the Mentor Network Program events.

Blog: What about parking slots for “brains”?

Will the state of biomedical research trigger reactions at least half as passionate as Bratislava's parking policy?

Illustrative stock photo