Corporate Commercial Banks Books Q1 Profit in the Amount of 9.13 Million Leva

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Corporate Commercial Banks Books Q1 Profit in the Amount of 9.13 Million Leva

Corporate Commercial Bank () booked Q1 profit in the amount of 9.13 million leva (4.66 mln euros), or 74% up from the same period a year ago (5.25 million leva, 2.68 mln euros).

The annual return on capital comes to 22.43% and return on assets is at 2.13%. The bank's capital adequacy stands at 13.1%.

Net revenues surged 74.2% y/y to 16.426 million leva (8.39 mln euros). Administrative costs amounted to 6.269 million leva (3.205 mln euros), which is 16.2% up from Q1 2007.

On March 31 the bank's assets stood at 1.68 billion leva (858 mln euros), or by 89.261 million down from the same period last year. The decline is attributed to centralized budget funds in the amount of 180 million leva, which were included in the banks' balance sheet last year.

The credit portfolio reached 717.6 million leva (366 mln euros) in Q1, which is equal to 42.7% of assets and is 49.8% up from the corresponding period a year ago.

The bank attracted funds in the amount of 1.49 billion leva (761 mln euros) from clients. This is a hike of 45.4% compared with Q1 last year.

886 shares changed hands on the position at an average of 83.35 leva, or 2.08% up from Friday.

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