Erste & Steiermärkische Bank Profit Growth

Last year, Erste & Steiermärkische Bank Group realised a profit of 18.2% more than a year earlier.

Consolidated net worth amounted to 410 million kuna which is 18.2 percent more than a year before, the Poslovni dnevnik daily writes.

Bank assets 35.51 billion kuna

Bank assets amounted to 35.51 billion kuna at the end of year, which was 11.8 percent of market share. Client deposits amounted to around 22.3 billion kuna and increased at the rate of high 30.2 percent while the market increased at the rate of 18.1 percent.

Net loans approved to clients amounted to 21.9 billion kuna and a rise of 19.1 percent was realised in relation to 18.4 billion kuna in 2005.

Higher income from regular business

In 2006, net income from interests was realised of 879 million kuna while net income from compensations and commissions amounted to 217 million kuna (+25.4%). Income from regular business was 1.27 billion kuna, which is 11.4 percent more than 1.14 billion kuna realised a year earlier.

Furthermore, expenditures from regular business grew in 2006 at the lowest rate, i.e. 10.7 percent which proves an increase of rationalisation of business. Thus, at the end of 2006, they amounted to 661 million kuna in relation to 597 million from the end of 2005.