Ljubljana - SKB Group, which has been part of the Hungarian banking group OTP since the end of 2019, posted a net profit of EUR 46 million last year, up 32% compared to the year before. The bank attributes the rise to the general economic recovery after the Covid-19 pandemic. Net revenue was level at EUR 122 million.

The favourable economic situation reflected in an increased loan activity. Nevertheless, due to high access liquidity and the pressure of competition on interest rates, net interests were down by 4.4%. Non-interest net revenue increased by 6.5%.

The economic recovery had a positive effect on the revenue from services, while operative costs of the group increased by 6.7% due to higher labour costs and costs of services, which were the result of digitalisation and automation of operation.

The cost and revenue ratio was up from 50.7% to 54.4%.

Operating profit was down by 8% to EUR 55.6 million due to higher operating costs.

The share of non-profitable investments was down by 76 base points annually to 1.9%, and the capital adequacy ratio reached 15%, slightly down from 15.2% in 2020.

SKB Group consists of SKB Banka and its subsidiaries SKB Leasing and SKB Leasing Select. The group employs over 900 people and services more than 200,000 clients in the Slovenian market.