PODGORICA (Montenegro), August 9 (SeeNews) – Hungarian financial services group OTP said on Friday its Montenegrin unit, Crnogorska Komercijalna Banka, recorded an after-tax profit without adjustments (dividends, net cash transfers and one-offs) of 1.839 billion forints ($6.3 million/5.7 million euro) in the first half of the year, up 35% on the year.
Crnogorska Komercijalna Banka's net interest income rose 14% year-on-year to 4.036 billion forints, while its net fees and commission income grew 14% to 1.65 billion forints, OTP said in an interim financial report.
Gross loans of OTP's Montenegrin unit rose 8% compared to the end-2018 figure to 170.088 billion forints, while total assets increased 11% to 249.445 billion forints as at the end of June.
Last month, Crnogorska Komercijalna Banka completed the acquisition of a 90.55% stake in Societe Generale Banka Montenegro for 35.6 million euro ($39.8 million).
(1 euro = 324.531 Hungarian forints)
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