Bulgaria's CCB Cuts Jan-Sept Cons Net Profit on Drop in Revenue

Bulgaria's CCB Cuts Jan-Sept Cons Net Profit on Drop in Revenue

Bulgaria's Central Cooperative Bank (CCB) said that its consolidated net profit fell to 19.3 million levs ($11.2 million/9.9 million euro) in the first nine months of the year from 25.3 million levs in the same period of last year, following a decrease in revenue. The lender's net interest income declined to 89.5 million levs in the January-September period of 2018, compared to 97.2 million levs in the comparable period of last year, CCB said in an interim financial statement on Friday.Net fee and commission income edged down to 36.0 million levs in the review period from 36.1 million levs in the prior-year period. Operating expenses rose to 100 million levs in the first three quarters of the year from 95.9 million levs a year earlier, while net expenses for impairment for uncollectibility halved to 8.5 million levs from 16.9 million levs the year before.

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