Banking sector’s profits jump in 2010

SLOVAKIA’S banking sector reported profits after tax of €383.8 million for the first nine months of 2010, an increase of 47.9 percent from the same period in 2009. Data published by the National Bank of Slovakia also shows that banks’ net interest income rose 6.1 percent to €1.25 billion and net income from fees and commission income increased by 10.2 percent to €329.1 million, the SITA newswire wrote. On the other hand, profit from foreign currency operations declined by 22.8 percent to €47.2 million. The banks’ net formation of risk provisions and reserves decreased by 12.6 percent and stood at €261.5 million. Assets on the balance sheets of Slovak banks reached €53.84 billion at the end of September and had increased by only 0.6 percent in comparison with the previous year.

SLOVAKIA’S banking sector reported profits after tax of €383.8 million for the first nine months of 2010, an increase of 47.9 percent from the same period in 2009. Data published by the National Bank of Slovakia also shows that banks’ net interest income rose 6.1 percent to €1.25 billion and net income from fees and commission income increased by 10.2 percent to €329.1 million, the SITA newswire wrote.
On the other hand, profit from foreign currency operations declined by 22.8 percent to €47.2 million. The banks’ net formation of risk provisions and reserves decreased by 12.6 percent and stood at €261.5 million. Assets on the balance sheets of Slovak banks reached €53.84 billion at the end of September and had increased by only 0.6 percent in comparison with the previous year.



The net profit of the Slovak banking sector dropped by 50.8 percent in 2009 and stood at €250.1 million at the end of that year.


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