CCB Sees Profit Down To 7 Million Leva Because of Stock Exchange Slide

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CCB Sees Profit Down To 7 Million Leva Because of Stock Exchange Slide

Central Cooperative Bank () saw its profit shrink 26% to 6.95 mln leva (3.5 mln euros), against 9.42 mln leva (4.8 mln euros) for the corresponding period a year ago.

The lower financial result was attributed to losses from operations with stocks that came to 4.59 mln leva (2.34 mln euros), while last year the bank reported profit of 6.3 mln leva (3.22 mln euros) from such.

Revenues from interest rates are up 24% to 51.4 mln leva (26.2 mln euros), and those from fees and commissions stay unchanged at 10.9 mln leva (5.57 mln euros). Other revenues total 8.9 mln leva (4.5 mln euros).

Costs soared by more than 26% to 37.35 mln leva (19 mln euros).

Assets are at 1.6 bln leva (818 mln euros) and the bank's equity capital reaches 216.7 mln leva (110 mln euros).

CCB has core capital of 83.155 mln leva (42.5 mln euros).

The last transaction on the position was at 3.95 leva and the company's market capitalization stands at 328 mln leva (167 mln euros).

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