Ljubljana – The Slovenian Intesa Sanpaolo Bank, formerly Banka Koper, last year generated EUR 12.8 million in net profit, which is 46% less than the year before. Revenue was down by 14.7% to EUR 64.6 million, the bank owned by the Italian Intesa San Paolo group said on Monday.
The bank attributed the drop in net profit to a rise in provisions for loan-related losses due to the Covid-19 epidemic in the amount of EUR 4.3 million.
Profit before taxes was down 46.3% to EUR 15.5 million.
At the end of last year, the bank’s capital adequacy ratio reached 18.82%, up from 15.9% a year ago, with the tier 1 capital ratio rising from 15.76% in December 2019 to 18.58% last December.
The bank’s total assets were up by 9.5% to EUR 2.945 billion.
Gross loans to the non-banking sector increased by 4.2% to EUR 2.068 billion last year, with loans to households going up by 2.3% (EUR 786.1 million) and loans to companies by 5.4% (1.28 billion).
The share of performing loans rose by almost 6% to top EUR 2 billion, while the share of non-performing loans dropped by 15% to EUR 52.6 million, which CEO Jozef Kausich sees as one of the bank’s biggest achievements.
The volume of deposits of the non-banking sector grew by 11.6% to EUR 2.48 billion, and those of households increased by 9.5% to EUR 1.78 billion. The deposits of legal entities were up by 17.2% to EUR 698.6 million.