Macedonia’s Ohridska Banka posts lower Q1 profit on higher impairment losses – SeeNews

SKOPJE (Macedonia), May 16 (SeeNews) – Macedonia’s Ohridska Banka [MSE:OHB] said its net profit fell 12.2% year-on-year to 101.1 million denars ($1.81 million/1.64 million euro) in the first quarter, mainly due to higher net impairment losses on financial assets.

Net impairment losses on financial assets almost doubled to 123.5 million denars in first quarter compared to 64.5 million denars in the like period of 2016, according to Ohridska Banka ‘s financial statement filed with the Macedonian Stock Exchange on Monday.

Net interest income increased 8.7% on the year to 290.1 million denars, while net fee and commission income declined 4.3% to 61.8 million denars.

French banking group Societe Generale owns 70.02% of Ohridska Banka, with the remaining 29.98% owned by minority shareholders. Ohridska Banka is part of the MBI-10 blue-chip index on the Macedonian Stock Exchange.

(1 euro = 61.53 denars)

Source Article from https://seenews.com/news/macedonias-ohridska-banka-posts-lower-q1-profit-on-higher-impairment-losses-568810

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