The profit of PBZ Group after taxation in the first nine months of this year amounted to 826.7 million kuna, which is 12.2 percent less compared to the same period last year, announced Privredna banka Zagreb (PBZ) via the Zagreb Stock Exchange.
The Group achieved interest income of 2.92 billion kuna in the first nine months, which is 0.6 percent less than in the first nine months of last year, attributed to lower demand for loans. At the same time, interest expenses increased by 0.3 percent due to slightly higher primary funding rates in the market.
Consequently, PBZ Group achieved net interest income of 1.83 billion kuna in the first nine months, which is 1.2 percent less year-on-year.
Net income from fees and commissions amounted to 817.7 million kuna, which is one percent less than in the first nine months of last year.
During the first nine months of this year, PBZ Group allocated 403.6 million kuna for value adjustments and provisions for losses, which is more than last year, especially in the area of exposure to households and small and medium-sized enterprises.
Within the group, the largest individual contribution was made by Privredna banka Zagreb itself with a profit after taxation of 595.8 million kuna, which is 22.4 percent less compared to the first nine months of last year.
PBZ’s interest income in the first nine months amounted to 2.68 billion kuna, which is the same as last year without an increase in active interest rates. Interest expenses amount to 997 million kuna and have increased by 0.8 percent, while net interest income has fallen by 0.6 percent.
At the same time, net income from fees and commissions of 385.4 million kuna increased by 0.6 percent.
