29.10.2021

Stopanska banka published the Q3 results for 2021

The Bank concluded the third quarter of 2021 with a positive result reaching 32.6 mil EUR profit before taxes, a 28% improvement compared to the same period in 2020. At the same time, the total assets have reached 1.737 mil EUR a 1% increase compared to 2020.

We are noting that performance results have improved across all positions, mostly due to the established business model of the Bank, adjusted to the market and client needs. The same period of 2020 was under the significant influence of the pandemic and improvements were planned and expected for 2021.

Within the income statement for the first 9 months the growth of the net fee income that increased by 16%, foreign exchange income, higher by  40%, net interest income that grew by 3% and at the same time managing the operational expenses at the same level as previous year.

The lending portfolio of the Bank noted growth of 7% compared to 31.12.2020, or circa 76 million EUR more loans to the economy, with stable deposit balances. The Bank remains to be sound and self-funded bank, visible from the L/D ratio that is 89%, enabling sufficient space for further growth. The devotion of the Bank towards clients, being main focus and challenge at the same time, remain one of the priorities. With these results, we are expecting another successful year with the Q4 ahead of us. The Bank will continue with the already started projects for digitization and improved channels of communication with the clients, as well as improving some features of the existing ones, thus accommodating the Bank in these times especially during pandemic to be closer to the clients’ reach.

We offer full support to our client with the products and services aligned to the market needs. We continue to have a high market share of around 27% in the retail-lending segment and an upward trend in the corporate lending market share reaching 15.14%.  Apart from the above, as always, the management will continue to  nurture the human capital and the overall business continuity of the Bank. The Bank shall also continue to be in support of our community in overcoming the extended covid pandemic and its aftereffects on the economy and the society.

Stopanska banka AD – Skopje
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