Halkbank profitable after two years of losses – Gross profit in 2016 amounts to RSD 136 million

Halkbank Belgrade, which operates under the eponymous Turkish bank, has reported non-audited 2016 business results, which show a growth of core business profitability and positive net results.

The bank recorded a slight drop in interest income due to a general drop in interest rates, but the net revenues in this segment rose by 14.1% to RSD 1.3 billion. The net F&C income stayed at the nearly identical level of RSD 576.6 million.

Halkbank, which owns around 0.4% of the local market, reduced net provisioning from RSD 761.8 million in 2015 to RSD 389.3 million in 2016.

Thanks to all of the above, Halkbank put a stop to two years of operating with losses, making RSD 136.1 million in gross profit in 2016. A year earlier, Halkbank's losses amounted to RSD 185.5 million.

The bank's assets rose in 2016 by 9.6% to close to RSD 35 billion, Wisebroker reports.

Halkbank AD Beograd

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