In 2017, SKB Group[1] posted a net profit of 43.4 M euros, 31.9% lower than in 2016. The decrease is mainly due to the fact that 2016 results had been boosted by exceptional events :

• a 9.7 M euros capital gain related to the sale of equity investments,
• a 15.5 M euros reversal of provisions due to an improved quality of credit portfolios.

SKB Group’s underlying business showed signs of real dynamism in 2017, with an increase of net banking income of 1.8%, and a stable gross operating profit. Net cost of risk remained positive this year, with a 0.5 M euros reversal of provisions.

[1] SKB Group consists of SKB Bank, SKB Leasing and SKB Leasing Select.