Deželna banka Slovenije Group Unaudited Interim Report for the first half year 2014
14. 8. 2014
In the six months to June 2014 the Banks operations results improved compared to the same period in 2013.
The realised operating profit for the period before impairments and provisions, and before tax, was up to EUR 5,498 thousand (1–6 2013: EUR 5,262 thousand).
After impairments and provisions profit before tax was also up compared to the same period last year, amounting to EUR 713 thousand. Profit after tax totalled EUR 586 thousand (1–6 2013: EUR 87 thousand).
Capital adequacy improved in the six months, the Bank reporting a ratio of 10.31% and the DBS Group a capital adequacy ratio of 10.55% at the end of June (31 December 2013: 9.83% and 10.26%, respectively).
The Banks most important and stable source of funding, assets collected from the retail segment, increased by 10% in the six months to June 2014. The amount of collected deposits and the good liquidity situation enabled the Bank to decrease its exposure to the banking sector. Total assets reached EUR 850,882 thousand at the end of June. The optimised balance sheet structure resulted in an interest margin of 2.42%; we have been reporting the best interest margin among Slovenian banks for quite a while.
Loans to corporate customers and the government were slightly down in the first half of the year, while retail loans were up as much as 4%. Net impairments and provisions were down 7% compared to the same period last year, totalling EUR 4,785 thousand (1–6 2013: EUR 5,140 thousand).
Operating costs were under control in the six months, having decreased by EUR 157 thousand from the same period last year.
Deželna banka Slovenije d. d.