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VÚB: Mid-year profits up 45 percent

THE VÚB group closed the first half of this year with a consolidated net profit of Sk1.9 billion (€48.7 million) according to International Financial Reporting Standards (IFRS), which represents a 45-percent growth year-on-year, SITA news agency wrote.

The group ascribed the net profit growth to an increase in operating revenues, which increased by 12 percent year-on-year to Sk5.3 billion (€136 million). Operating revenues were chiefly comprised of net interest revenues of Sk3.4 billion (€87 million) and net fees and provision of Sk1.2 billion (€31 million).

The total assets increased by 9 percent to Sk217 billion (€5.57 billion).

The group includes the VÚB bank, VÚB Asset Management, VÚB Factoring, VÚB Leasing, VÚB Generali (a pension savings management company), Consumer Finance Holding, and Recovery.

Compiled by Martina Jurinová from press reports
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