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Saturday | October 24 | 2020

Banks profits in Slovakia fell by almost half at the end of August

The eight-month profit of Slovak banks amounted to EUR 254,3 million, according to National Bank of Slovakia data and cited by Ekonomika.

Net interest income, which accounts for the largest part of the banking sector’s revenues, fell by 4.6% to €1.107bn.

Profitability also fell for banks in Slovakia at the end of August. However, the pace of year-on-year decline slowed compared to July, from 51.4% to 43.1%. Provisioning and provisions increased significantly, from EUR 73,2 million to EUR 259,9 million.

Banks expect the increased provisioning to continue into the next period.

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