PBZ Bank Increases Profit in First Quarter

By 29 April 2018

ZAGREB, April 29, 2018 - Privredna Banka Zagreb's (PBZ) net profit in the first quarter of 2018 totalled 285.4 million kuna, up 5.2% on the year, according to a financial statement.

Interest revenue was 621.4 million kuna, while interest cost was 80.4 million kuna, putting the net interest revenue at 541 million kuna, compared with 586 million kuna in Q1 2017.

The cost to revenue ratio was 43.5%, the PBZ said.

The PBZ Group's net profit amounted to 392.8 million kuna, up 5.5% from Q1 2017. In said period, the Group set aside 49 million kuna for value adjustment costs and loan loss provisions. All Group members reported successful financial results.