Erste Bank’s profit in Serbia reduced by 16.7%

Erste Bank in Serbia announced today (July 30, 2009) that its untaxed profit in the first six months of year 2009 had reached the amount of 173.8m RSD, which was 16.7% less than in the same period in 2008.

At the end of June, the balance sum of Erste Bank amounted to 52 billion RSD, which is 5.7% more than at the end of year 2008.

The bank’s capital was increased by 1.6%, at 10.71 billion RSD, while the debts grew by 6.77%, reaching 41.26 billion RSD.

According to the announcement, overall saving deposits reached the amount of 30.16 billion RSD, 17% more than at the end of year 2008. The companies’ deposits were increased by 31.5%, while the citizens’ saving deposits grew by 4.2%.

Total amount of approved loans was increased by 2.2%. Amount of loans granted to citizens grew by 3.6%, while the value of loans approved to the economy sector was increased by 1.6%.

- Having in mind that the business conditions in the first half of this year were much more unfavorable than in the same period in 2008, we are of the opinion that the achieved results represent a reflection of resistance of our business model to the challenges in Serbia that were introduced by the global crisis – said Slavko Carić, the President of the Executive Board of Erste Bank.

In eight countries in which it operates, Erste Group registered 765.1m EUR worth of profit from continuous operations in the first six months of year 2009, which is 18.2% less than in the same period last year, while the operational profit was increased by 19.1%, reaching record 1.8 billion EUR.

The balance sum of that group was increased by 1.4%, reaching 204.2 billion EUR.

Erste Bank is present in Austria, Czech Republic, Slovakia, Hungary, Croatia, Serbia, Romania and Ukraine.

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