27. 10. 2023

Financial results for Q3/2023

Stopanska Banka presented the results of September 2023, reconfirming once again its excellent performance resulting in strong profitability, solid balance sheet growth, high asset quality, stable liquidity, and robust capital position.
The core income amounts to 4.8bn denars, being higher than 2022 same period by 29%, while the income before provisions and taxes was 3.7bn denars, also 27% higher than same period last year.
The operational costs noted increase by 12% reflecting increased prices, however, the cost-to-income ratio noted decrease from 33% to 30% showing disciplined expense management.

The Bank increased the provision charge for loans, allocating the amount of 940k denars, higher by 313k denars vs. last year, to cover more than adequately all respective loan stages.

As a result of the above, the net profits reached 2.5bn denars, higher by 20% vs. 3Q 2022.
At the same time, Stopanska Banka increased its business volume with improved interest margin, expanding its product offering and enhancing further its balance sheet, maintains and maintaining its significant market share. The loan portfolio noted an increase of 4% or 89.7bn denars, supported by a strong deposit base reaching 95.9bn denars.

The securities investments increased by 12% and amount 11.660k denars, which with other liquid assets enables sufficient liquidity coverage and at the same time business growth.
Strong profitability creates organic healthy capital, and with capital adequacy ratio above 17%, the Bank continues to be stable, strong, and resilient bank in the country, committed to delivering multi-channel customer support, focused on the healthy profitability growth and continuous improvement of operational efficiency.

Stopanska banka AD - Skopje