August 9 (SeeNews) - Hungarian banking group OTP said on Friday its Serbian unit recorded an after-tax profit without adjustments (dividends, net cash transfers and one-offs) of 2.991 billion Hungarian forints ($10.3 million/9.2 million euro) in the first half of 2019, up 91% on the year.
The net interest income of OTP Banka Srbija grew to 11.15 billion forints in the first half from 9.676 billion forints in the previous year, while its net fee and commission income rose 13% to 3.806 billion forints, OTP said in an interim financial report.
OTP Banka Srbija’s gross loan portfolio expanded by 11% compared to the end-2018 figure, reaching 438.3 billion forints in June. Deposits from customers fell 6% in the review period to 351.885 billion forints.
Total assets grew 4% compared to December 2018 level to 613.188 billion forints as at the end of last year.
In December, French banking group Societe Generale said that it entered into an agreement with a view to sell its Serbian unit to OTP Bank. Serbia's central bank governor Jorgovanka Tabakovic said last week that the regulator had not yet approved the agreement for the sale.
In August 2017, OTP Banka Srbija purchased from National Bank of Greece a 100% shareholding in Serbia's Vojvodjanska Banka and NBG Leasing, as well as certain other Serbian exposures held by National Bank of Greece.
(1 euro = 324.413 forints)
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