AIK banka posts substantial profit drop for Q1 2014

AIK banka (AIKB), which has recently been acquired by famous Serbian businessman Miodrag Kostic and his MK grupa through the Sunoko company, has announced business results for the first quarter of 2014.

Its earnings before taxation (EBT) sank 72.9 percent to RSD 218.7 million, mainly due to increased expenditures totaling RSD 1.1 billion.

In the period January-March 2014, revenue from interests fell 6.7 percent to RSD 2.7 billlion, while the profit from interests grew 7.4 percent to RSD 1.7 billion. Revenues from fees and commission soared 9.2 percent to RSD 193.7 million, pushing the resulting profit up 7.1 percent to RSD 162.7 million.

The loans granted by AIK banka were at RSD 64.6 billion in Q1 2014, down 2.5 percent from the year before, which caused the overall assets to drop 1.7 percent to RSD 149.8 billion.