Ljubljana, 24 May (STA) - NLB, Slovenia's largest bank, reported a net profit of almost EUR 58m for the first quarter of the year, up marginally from the same quarter in 2018.
Total net operating income amounted to EUR 133.8 million, a 3% increase year-on-year, underpinned by higher net interest income, which rose 6%, and higher net fees and commissions, which were up 2%.
Net interest income has grown in all banks of the Group as a result of loan volume growth and lower interest expenses, the bank said on Friday.
Total costs amounted to EUR 69.0 million and were 1% lower compared to the year before.
The volume of gross non-performing loans dropped by EUR 43.1 million (7%) over the end of 2018.
The share of non-performing loans dropped to 6.3%, while the internationally comparable ratio according to European Banking Authority guidelines dropped to 4.3% and was "close to the mid-term target".
The capital ratio (CET1, Tier 1, and Total capital ratio) reached 16.6%, which is above all regulatory requirements, according to NLB.
The Q1 report was examined by the bank's supervisory board on Friday, which established that "despite the challenging economic environment of low interest rates the NLB Group is on the right track to meet its medium-term targets."