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Business news in Slovenia

Bank profits continue to rise

Ljubljana, 14 May (STA) - Banks in Slovenia generated EUR 277.2 million in pre-tax profit in the first quarter of the year amid robust revenue growth, which is 82% more than in the same three months last year. Net profit increased by 88% to EUR 241 million, the Slovenian central bank says in its monthly publication on the performance of banks.

Judging by February figures, profit growth slowed down a bit although it remained strong, especially given a record year for banks in 2023 when profits more than doubled.

Net revenue from interest increased by 31% to EUR 404.6 million in the January-March period compared to the same period in 2023.

Non-interest revenue nearly doubled, up 96%, to EUR 147.1 million.

Gross revenue increased by 43.5% to EUR 551.7 million and net revenue by 85% to EUR 284.7 million.

Operating costs increased by 16% to EUR 266.9 million.

The banks made net impairments and provisions of EUR 7.5 million, which is nearly five times more than in the same period last year yet still modest.

Total value of loans to the non-banking sector reached EUR 27.04 billion at the end of March, up 1.1% from the end of March last year.

Total value of loans to businesses meanwhile decreased by 3.4% to EUR 9.97 billion.

Loans to households increased in the first three months, by 4.2% to EUR 12.70 billion, largely due to consumer loans, which rose by 108.2 million.

At the end of March, the volume of consumer loans reached EUR 2.89 billion, a rise of 14.4% compared to March 2023.

Housing loans grew at a slower pace to amount to EUR 8.18 billion at the end of March, up 1%.

Deposits by the non-banking sector reached EUR 40.44 billion at the end of March, 3.2% more than a year earlier.

Deposits by households meanwhile decreased in the first three months by 74.3 million to reach EUR 26.44 billion at the end of March, up 2.3%.

Total assets of all banks increased by 5% to reach EUR 52.84 billion at the end of March.

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