PBZ Group achieved a pre-tax profit of 1.57 billion kuna last year, while the net profit amounts to 1.25 billion kuna, marking an increase of 9 percent, according to the unaudited financial data for the previous year reported today by Privredna banka Zagreb.
The profit of Privredna banka Zagreb before taxation amounts to 1.33 billion kuna, and after taxation, it is 1.1 billion kuna, PBZ states, assessing that PBZ Group and the Bank achieved good business results last year. “By retaining profits in recent years and not paying dividends to shareholders, the Bank has maintained a high level of equity capital, which, after the increase from profits in 2008, amounts to 8.87 billion kuna. As a result, the current capital adequacy ratio of 13.46 percent will increase by 2 percentage points, which will enable uninterrupted lending and the Bank’s operations,” PBZ emphasizes.
They also state that the corporate income tax of PBZ Group amounts to 320 million kuna, which is an increase of 5.6 percent compared to 2007. In addition, the total amount of all paid taxes and public levies by PBZ Group, which includes corporate income tax, income tax, surtaxes, and contributions, as well as other public levies, amounts to 651.4 million kuna.
The total assets of PBZ Group amount to 71 billion kuna, PBZ emphasizes. They explain that the growth of PBZ Group’s assets is primarily driven by the increase in loans and advances to clients, especially loans to small and medium-sized enterprises, which grew by 10 percent, and loans to the state and large companies, which grew by 28 percent compared to the previous year. All members of PBZ Group, fully or majority-owned by Privredna banka Zagreb, also achieved good financial results, concludes the PBZ statement. (H)
