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ABANKA d.d., Ljubljana

Announcement of the Performance of Abanka d.d. in the First Quarter of 2017 Including the Consolidated Financial Statements

In accordance with the Ljubljana Stock Exchange Rules and the applicable legislation and with best business practices, Abanka d.d. hereby publishes its performance results including the unaudited unconsolidated and consolidated financial statements for the first quarter of 2017.

This announcement will also be available online www.abanka.si as of 19 May 2017.

The announcement in the English language is for information purposes only.

Abanka posted a net profit of EUR 17.0 million for the reporting period, whereas in the same period last year it recorded a net profit of EUR 20.2 million. Lower profit is primarily a result of EUR 3.6 million less reversed impairments and provisions compared to the corresponding period last year. In the low interest rate and highly competitive environment, Abanka’s net interest income of EUR 19.0 million was by 5.7% lower compared to the first three months of 2016, while net fee and commission income increased by 5.7% to EUR 10.8 million. In 2017, the Bank continues to implement cost optimisation processes of its operations, which is reflected in lower expenses in the first quarter of 2017 compared to the respective period of 2016. Compared to the corresponding period of the previous year, operating expenses equalled EUR 16.2 million, having decreased by 5.9% or EUR 1.0 million in nominal terms.

As at 31 March 2017, total assets of Abanka amounted to EUR 3,677.9 million, whilst its market share in terms of total assets stood at 9.8%. The Bank has high liquidity and a strong capital base. As at the reporting date, total capital ratio and Common Equity Tier 1 capital ratio of Abanka were 25.64%.

The stability and soundness of the Bank are also confirmed by the rating agency Fitch Ratings, which on 5 May 2017 upgraded Abanka's Long-Term Issuer Default Rating from BB to BB+ and assigned it a stable outlook. Abanka's Viability Rating was also upgraded from bb to bb+. Other Bank ratings remain unchanged: Short-Term IDR at B, Support Rating at 5 and Support Rating Floor at No Floor.

In 2017, the Bank continues to implement the restructuring and optimisation processes of its operations. Moreover, the Bank actively pursues digitisation of banking services as well as upgrades the functionality of the electronic and mobile channels, committed to excellent financial services, consequently reducing operating expenses.


Management Board of Abanka d.d.
Date: 19.05.2017