Procredit Bank Bulgaria Grows 2018 Net Profit

Procredit Bank Bulgaria Grows 2018 Net Profit

ProCredit Bank Bulgaria, a unit of Germany's ProCredit Holding, said that its net profit grew to 38.1 million levs ($21.9 million/19.5 million euro) in 2018 from 32.2 million levs the year before. ProCredit Bank Bulgaria's net interest income fell to 57.5 million levs last year from 59.3 million levs in 2017, the bank said in an annual financial statement.Net fee and commission income rose to 22.3 million levs in 2018 from 20.0 million levs in 2017.Operating expenses fell to 46.0 million levs from 49.4 million levs the year before, as administrative expenses declined to 29.7 million levs from 32.2 million levs. The lender's assets rose to 2.17 billion levs at the end of 2018 from 1.98 billion levs a year earlier. ProCredit Bank Bulgaria was the country's 12th largest lender by assets at the end of 2018, according to central bank data.

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