AIK bank generated 48% higher profit in 2014 due to lower write-off costs

Nis-based AIK bank published net profit for 2014 totaling RSD 1,8 billion which is 48% more than in 2013 due to lower reservation costs and a bit more net profit generated through fees and taxes.

Net profit generated from interest rates remained stable at RSD 6,7 billon while net profit generated through fees and taxes increased by 24,5% to RSD 818,2 m. Net reservations decreased by 22,8% to RSD 3,1 billion.

Working capital increased by 14% to RSD 173,3 billion mainly due to growth of placement in financial assets (most likely securities which is trend in the entire sector) and a slow increase of credit activity, "Wisebroker" reports.