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Slovenia's Abanka 2018 net profit jumps by 57 pct

Reuters

LJUBLJANA, April 17 () - Slovenia's third-largest bank, Abanka, which is due to be sold in coming months, made a group net profit of 65.6 million euros ($74.17 million) in 2018 versus 41.6 million a year before, amid costs cuts and a decline in bad loans, Abanka said on Wednesday.

The state-owned bank said in a report that non-performing loans fell to 4.6 percent of all loans from 10.2 percent a year before.

The bank has a market share of 9.6 percent in Slovenia, according to balance sheet assets, which rose by 2 percent last year.

State investment firm Slovenian Sovereign Holding, which is in charge of privatisation, refused to comment on the sales process.

Slovenia intends to sell all of Abanka by the middle of this year to meet the terms of an agreement to win European Commission approval of state aid to the bank in 2013.

($1 = 0.8845 euros)


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