North Macedonia’s Komercijalna Banka's 1H24 net profit jumps 42% y/y

By bne IntelliNews July 31, 2024

North Macedonia’s largest bank, Komercijalna Banka, said on July 31 that its unconsolidated net profit in the first half of 2024 jumped by an annual 42% to MKD2.84bn (€46.2mn).

Net interest income played a fundamental role in shaping the overall revenues in the first six months, experiencing an annual surge of 22.2% to over MKD2.9bn.

Furthermore, net revenues derived from commissions and fees reached MKD611.8mn, reflecting an increase of 13.7% when compared to the same period in 2023, the bank said in a bourse filing.

Total revenues from operations amount to MKD4.5bn, reflecting a 36.5% jump compared to the same period last year.

The bank's total assets reached MKD166.7bn at the end of June 2024, an increase of 1.9% compared to December 2023.

The increase in total assets is primarily due to the rise in client loans, with additional contributions from increased investments in securities and loans and claims from banks.

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