Spectator on facebook

Spectator on facebook

Slovak banking sector posts €276.4 mn net earnings in May

The Slovak banking sector posted net earnings of €276.4 million up to the end of May, according to data published by the Slovak central bank (NBS).

The National Bank of Slovakia(Source: Sme)

Earnings therefore, went down by €38.4 million compared with the figure recorded for the end of May 2015, NBS reported on July 6.        

The sector’s earnings were negatively influenced by net interest yields. According to NBS’ profit and loss statement, these yields which are the main source of income for financial houses amounted to €741.3 million up to the end of May, which was a drop of 4.2 percent year-on-year. 

Net income from fees and commissions reported a fall as well - from €218.6 million up to the end of May 2015 to €215.4 million to the same month of this year. Net earnings of the banking sector for the whole of last year reached €626 million, up 11.7 percent y-o-y.  

The central bank pointed to a deterioration in the profitability of the sector back in April, the reason being lower interest rates. Net interest yields were the main driving force behind the banking sector’s profitability between 2005 and 2014. Their volume constantly increased over that period with the exception of 2012.

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.

Topic: Economics


Top stories

Rules for hiring foreigners are simpler. For exceptions

Despite positive changes, employers still point to some barriers preventing more effective and simpler recruitment of foreign workers.

Some problems with Foreigners’ Police continue.

For a Decent Slovakia protests to resume on Friday

After a summer break, organisers of the protests that have drawn masses to Slovakia’s streets stated that their – and the citizens’ – demands are far from being met.

For A Decent Slovakia march on June 22, 2018, in Bratislava.

News isn’t negative because journalists are cynical

The problem is caused by the demand side.

What is it like to study at a foreign college? Students explain to high-schoolers

Some Slovak students who study abroad already have work offers.

Students during the workshop