Nova KBM
 

Preliminary results of operations of Nova KBM for the period January –September 2011 | NKBM

Nova KBM performed well in the first nine months of 2011. For the period from 1 January to 30 September 2011, the Bank reported a pre-tax profit of €7.3 million from continuing operations, which made up 52.9% of the annual projection. Net profit amounted to €6.2 million.

Preliminary results of operations of Nova KBM for the period January –September 2011

25 October 2011
OBVESTILA
Nova KBM performed well in the first nine months of 2011. For the period from 1 January to 30 September 2011, the Bank reported a pre-tax profit of €7.3 million from continuing operations, which made up 52.9% of the annual projection. Net profit amounted to €6.2 million.
 

The Bank's total assets were €4,780.0 million at the end of September, down €26.5 million, or 0.6%, from the 2010 year-end. As of 30 September 2011, the Bank's market share in terms of total assets was 9.7%, an increase of 0.1 percentage point from the beginning of the year.


In the period from January through September 2011, the Bank generated net interest income of €76.3 million, which accounted for 71.0% of the annual projection. Interest margin, calculated on the average total assets, was 2.12%, which was 0.08 percentage points below the projection. Net fee and commission income totalled €33.1 million, or 81.2% of the annual projection. The Bank covered 52.5% of its administration costs, including depreciation and amortisation, with net fees and commissions.


The Bank's profit before provisions and impairment losses was €52.2 million, which accounted for 76.2% of the annual projection. With the economic recovery stagnating, the quality of the Bank's loan portfolio registered a further moderate deterioration, as a result of which the Bank had to recognise higher than projected provisions and impairment losses; these amounted to €45.2 million, or 82.1% of the annual projection.


Net loans and advances to customers totalled €3,433.6 million at the end of September, a decrease of €72.3 million, or 2.1%, from the end of 2010. Nova KBM's market share in loans to the non-banking sector remained flat at 10.2%.


Deposits from customers totalled €3,136.5 million at the end of September, up €111.6 million, or 3.7%, from the end of 2010. The Bank's market share in deposits from the non-banking sector remained flat at 12.9%. The ratio of net customer loans to customer deposits stood at 109.5% at the end of September (2010 year-end: 115.9%).
As of the end of September 2011, the Bank's total equity was €473.3 million, an increase of €98.1 million, or 26.1%, from the end of 2010. The total capital adequacy ratio of the Bank as of 30 September 2011 was 12.42%.