Ljubljana - Banka Sparkasse, the Slovenian subsidiary of the Austrian banking group Erste Group, increased its total assets by more than a fifth to EUR 1.6 billion last year, which compares to 8% growth in the country's baking system.

According to a press release from Sparkasse, operating profit rose by 18% to almost EUR 11 million and pre-tax profit was up fivefold to a record EUR 17.8 million.

Both the bank Sparkasse and its subsidiaries Sparkasse Leasing S and S-Factoring posted higher than planned profits. "The results achieved reflect the long-term focus on the customer," the release quoted the bank's chairman Tomaž Šalamon as saying.

The bank operated ten offices and one consulting centre in Slovenia as of the end of 2021, employing a total of 264 people in the country.

The 2021 business report, published on the bank's website, shows Sparkasse posted a record growth in retail lending last year. Retail lending as of the end of 2021 totalled EUR 655 million gross with the volume of new housing loans increasing by 59%, and the volume of consumer loans expanding by 39%. Household deposits increased by 18.6%.