Impairments, provisions continue to raise banks’ profit

Several hundred euro banknotes stacked by value. Euro money concept. Rolls Euro banknotes. Euro currency. Announced cancellation of five hundred euro banknotes. Banknotes stacked on each other in different positions. Toned photo.

Ljubljana – Banks in Slovenia generated a pre-tax profit of EUR 372.5 million in the first nine months of 2021, down 10.5% compared to the same period last year, when re-tax profit benefited from a merger of two banks. Profit was relatively high, but mainly due to the net released impairments and provisions, the central bank said on Tuesday. If impairments and provisions were close to the long-term average, the profit would be only a third of what it is now. “The sustainability of profit generated by banks thus remains…

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