February 29 (SeeNews) - Serbia's Erste Bank Novi Sad, part of Austria's Erste Group, said on Thursday its net profit soared to 5.5 billion dinars ($55.5 million/51.2 million euro) last year from 2.3 billion dinars in 2022.
Net interest income rose 43% to 14.6 billion dinars in 2023, while net fee and commission income increased 8.5% to 3.6 billion dinars, the Serbian bank said in a statement.
Corporate loans increased 11% on the year to 123.6 billion dinars at the end of December, while corporate deposits increased 15% to 109 billion dinars in the period under review.
At the same time, the volume of household loans advanced by an annual 1.3% to 109 billion dinars at end-2023, while household deposits rose 10% to 145 billion dinars.
Erste Bank Novi Sad's total assets increased 7.6% on the year to 379 billion dinars at the end of last year.
The non-performing loan (NPL) ratio was 2.8% at end-2023, the statement said without providing a comparison with end-2022.
The network of the Serbian bank included some 87 offices across the country at the end of 2023.
Out of 20 active lenders in Serbia as of end-September, Erste Bank Novi Sad was the eighth largest bank in terms of assets, latest available central bank figures showed.
(1 euro = 117.202 dinars)
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