NBS: Slovak banks enjoy 47% y/y growth in profit

Just like elsewhere in the world, banks in Slovakia were probably shaking in their shoes in the wake of the economic crisis, but Slovak banks can now relax and enjoy a 47% year-on-year growth in profit over last year.

From January to October this year banks in Slovakia saw their net profits rise to EUR 430.25 million, according to latest data published by the National Bank of Slovakia.

This translates as a 47% growth over last year, which is partly thanks to a revived loans market and partly because banks made savings in operating expenses, which fell by some EUR 41.67 million year-on-year. The overall net profit from loans was boosted by EUR 77.5 million over the first three quarters of the year to reach EUR 1.4 billion.

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