Corporate profits in Slovakia decline 6.3 percent y/y in 3Q13

The profits of financial and non-financial corporations in Slovakia in 3Q13 fell by 6.3 percent year-on-year to €2.659 billion. This development was mainly due to a drop in profits of financial corporations by 9.3 percent to €515 million, and those of non-financial corporations by 5.6 percent to €2.143 billion.

The profits of financial and non-financial corporations in Slovakia in 3Q13 fell by 6.3 percent year-on-year to €2.659 billion. This development was mainly due to a drop in profits of financial corporations by 9.3 percent to €515 million, and those of non-financial corporations by 5.6 percent to €2.143 billion.

The decline was caused by other financial mediators, whose profits fell by a considerable 44.9 percent to €75.5 million, the Slovak Statistics Office (ŠÚ) informed on December 4, as quoted by the TASR newswire. Conversely, the profits of financial institutions were up 1.3 percent to €321.5 million, and those of insurance corporations and pension funds were up by 4.3 percent to €118.3 million.

When the first three quarters of 2013 are taken into account, all three types of financial corporations made profits: monetary financial institutions made €959 million, insurance corporations and pension funds made €274.2 million and other financial brokers brought in €201.9 million.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
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