Ljubljana, 21 March (STA) - SID Banka, the state-owned export and development bank, saw net profit decline 35% year-on-year in 2017 to EUR 14m, as total assets contracted by 4% to EUR 2.45bn.
The decline in profit was largely the result of one-off effects prompted by restructuring procedures, the bank said on Wednesday.
Net interest revenue was down 15% to EUR 20.3m, with non-interest revenue plunging to EUR 2.6m from EUR 21.2m in 2016.
While losing almost EUR 8m on write-downs and provisions in 2016, the bank actually generated revenue of EUR 6.5m in this segment last year.
The bulk of the bank's portfolio consists of loans to banks, which were up 3.6% to EUR 1.03bn at the end of last year. Loans to non-bank clients were down 2.1% to EUR 598m and investments in securities contracted by over 6% to EUR 730.5m.