State-owned HPB bank generates record high profit

The Croatian Postal Bank (HPB) wrapped up H1 2016 with the highest semi-annual net profit in the bank's history, amounting to HRK 1.3 million, with a strong growth of market shares in all segments of its business transactions, the HPB said in a press release Friday.

According to unrevised reports, the HPB generated HRK 192.8 million in operating profit and HRK 91.3 million in net profit in H1 2016, the bank said in the press release.

Compared with the same period last year, the bank's net profit was up 11% and operating profit increased by 4.5%. The biggest state-owned bank in Croatia said the main reason for those increases was net non-interest profit which in the first six months of this year grew by as much as 23.4%.

The bank's assets by the end of June increased by 3.7%, reaching HRK 18.4 billion.

Last update: Fri, 22/07/2016 - 12:11
Author: 

More from Business

Trump's sons in Dubai to launch golf course

The two eldest sons of US President Donald Trump were in Dubai on Saturday to open the 18-hole Trump International...

Croatian food company Podravka opens EUR 4 mn factory in Tanzania

The Croatian food company Podravka on Wednesday opened a food seasonings factory in Tanzania worth four million...

Lufthansa reaches settlement with pilots' union in salary dispute

German airline Lufthansa and pilots' union Vereinigung Cockpit have agreed to a settlement proposed in mediation,...

OPEC members produced less oil than production limit in January

OPEC members have more than fulfilled their plan to lower its oil output in January, according to a report that the...

Ford set to invest in artificial intelligence company Argo AI

Motor company Ford announced Friday it would invest 1 billion dollars in new artificial intelligence company Argo AI...