The Daily Slovak News
Posted by on 2 Feb 2012. Filed under Business, Top news. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Slovak Banks Enjoy 34% y/y Hike in Profit

As people have to keep tightening their belts, Slovak banks are not suffering from any crisis, with a massive hike in profits in 2011.

According to a press release issued by the Slovak Banking Association (SBA) yesterday, the net income of Slovak banks for 2011 translates into an astonishing 34% year-on-year hike in profit to EUR 674 million.

The positive figure comes from preliminary calculations of the National Bank of Slovakia, with one-off deposits generating a large part of the positive development. Discounting them, the profit in the sector would still be EUR 504 million. The final audited results should be published in March.

In 2011 Banks saw net income from interest increase by 7% year-on year (to EUR 1.8 billion), with revenues from fees and commissions also up 5%. New mortgage loans granted in 2011 came to EUR 3.8 billion, which is an all-time high (in 2010 it was EUR 3.2 billion).

3 Comments for “Slovak Banks Enjoy 34% y/y Hike in Profit”

  1. George M

    No real oversee or proper NBS regulation, no proper or active consumer ombudsman, currently a cartel, limited loan product ranges, bureaucratic and stupid form filling, sky high banking charges, sky high Interest rates, no real competition between banks …. Don`t you just love this country .

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