The Slovenia Times

Banks Already Exceed 2010 Annual Loss


In the same period last year, the Slovenian banking sector recorded a EUR 95m profit.

As conditions in some sectors of the economy continue to deteriorate, write-offs and provisions reached EUR 610m in the first nine months, which is 35.8% more year-on-year.

According to Banka Slovenije, provisions and write-offs stood at EUR 150m in September alone.

The total assets of banks in Slovenia fell by EUR 568m in September, mostly because banks continued to reduce their liabilities to foreign banks, to the European Central Bank and other central banks of the eurozone, and due to early bond repayments.

The banks' operating results reflect the macroeconomic environment, according to Banka Slovenije, while the central bank labelled the capital adequacy and liquidity of the Slovenian banking system as "appropriate".

Banka Slovenije projects the annual inflation level in Slovenia will remain at around 3% until the end of the year and then fall below 2% in the first months of 2012.


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