The Croatian Bank for Reconstruction and Development achieved total revenues of 420.5 million kuna and a positive financial result of 92.3 million kuna in the first six months of this year, according to the unaudited financial report published on the Zagreb Stock Exchange.
HBOR’s profit after tax for the first half of this year is 4 percent higher compared to the profit from the first six months of last year. Net interest income has simultaneously increased by 2.3 percent, to 219.1 million kuna, and the statement notes that a 12.8 percent growth in total interest income (to 407.3 million kuna) was accompanied by a 28.3 percent increase in interest expenses (to 188.2 million kuna). This is explained by the rise in interest rates in the financial market and the planned increase in the volume of activities. Net fee income, on the other hand, decreased in the first six months of this year by almost 12 percent compared to the same period last year, to 9.6 million kuna, while net income from financial activities fell from last year’s 15.3 million kuna to 617 thousand kuna.
The total balance sheet total of HBOR at the end of June this year amounted to 16.4 billion kuna, which is an increase of 10.1 percent compared to the beginning of this year. Total net loans at the end of June this year amounted to 15.28 billion kuna, while gross loans amounted to 17.11 billion kuna, which is 8.4 percent higher compared to the beginning of the year. Among the significant indicators of HBOR’s operations from the first half of this year, it is noted that the total liabilities of the bank as of June 30 this year amount to 10.9 billion kuna, of which nearly 6 billion kuna relates to liabilities from issued bonds, while HBOR’s credit liabilities account for 3.3 billion kuna. (H)
