N. Macedonia's Komercijalna Banka Q1 net profit up 13% y/y

SKOPJE (N. Macedonia), April 25 (SeeNews) - North Macedonia's largest lender, Komercijalna Banka [MSE:KMB], said on Thursday its net profit reached 1.2 billion denars ($20.9 million/19.5 million euro) in the first quarter of 2024, some 13.4% higher compared with the net profit booked in the same period last year.

The bank's net interest income went up 26.8% year-on-year to 1.5 billion denars in the period under review, while net fee and commission income was 25.6% higher at 336.5 million denars, the bank said in an interim financial statement filed with the stock exchange in Skopje.

Loans and advances to customers other than banks grew to 62.8 billion denars at the end of March, compared with 60.2 billion denars at the end of December, while deposits from such customers decreased to 141.5 billion denars from 142.5 billion denars at the end of 2023.

Komercijalna's total assets slightly rose to 163.62 billion denars at the end of March from 163.61 billion denars at the end of 2023.

The lender's shares traded at an average price of 17,960 denars on Thursday on the Macedonian Stock Exchange (MSE).

(1 euro = 61.51 denars)