Jubmes profitable for the first time since 2013 – Net profit in 2016 amounts to RSD 64.3 million

Despite a great drop in core business activities, Belgrade's Jubmes Bank has returned to profit thanks to lower net provisioning.

Jubmes, which owns 0.3% of the local banking market, continued the trend of a drop in net interest income by 20% to RSD 347.1 million in 2016. The net F&C income dropped by nearly 16% to RSD 89.8 million.

The drop in net provisioning from RSD 1.8 billion in 2015 to RSD 19.2 million in 2016 made the biggest contribution to the positive result, Wisebroker reports.

Thanks to lower expenditures in this segment, Jubmes made a net profit of RSD 64.3 million, compared to a loss of RSD 1.8 billion in 2015. The bank's assets dropped by 10.4% to RSD 9.3 billion in 2016.

Alta banka ad Beograd

Jubmes Bank

Jubmes Bank profit

Jubmes Bank income