AIK banka generates 100% profit increase

Nis-based AIK banka (AIKB) has announced 1H 2012 results, thus confirming profitability growth trend generated in Q1.

1H2012 saw interest rates profit almost at standstill compared to the same period last year and totaled RSD 6.35 bn. Still, thanks to significant expenditures decrease, interest rate profit increased from 18.3% to RSD 3.75 bn.

Profit generated from fees and commissions declined by 5% to RSD 481.5 mil while profit from this business segment decreased by 9.7% and totaled RSD 417.8 mil.

Compared to 1H last year, due to rapid dinar exchange rate change, AIK generated exchange rate difference expenditure of almost RSD 3bn. Net expenditures on the basis of indirect placement write-off and reserving, remained stable at RSD 2.4.

AIK Banka generated EBITDA of RSD 2 bn which was doubled compared to the same period last year. As it has been said earlier, management of the bank was planning to generate profit of RSD 5.6 bn the following year.

At the end of June 2012, AIK Banka’s assets were RSD 152.1bn, a 6.3% increase as of the beginning of the year.

Shares in AIK Banka at the Belgrade Stock Exchange closed yesterday’s trading at RSD 1.369 which give market capitalization of the Bank of RSD 12.1 bn (EUR 102.9).