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Friday, 26.04.2024, 18:58
Estonian Krediidipank posts strong Q1 profit
BC, Tallinn, 22.05.2015.
Print version
Print versionThe Estonian Krediidipank informed that the group's profit in the first quarter of this year amounted to nearly 720,000 euros while in the first quarter last year, the banking group had a loss of nearly 90,000 euros, reports LETA.
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The Krediidipank group balance sheet volume grew by almost 10% and by the end of March this year amounted to nearly 287 million euros. The balance sheet total grew particularly thanks to the increase of households' demand deposits.
Lending volumes remained virtually unchanged during the year and the group's loan portfolio at the end of March was almost 150 million euros.
"I am delighted that we have been able to increase the profits of the banking group. Profit growth is mainly due to withdrawal of write-downs of loans, due to improved customer payment behaviour," said Krediidipank's Chairman of the Board Valmar Moritz, adding that the bank has made its work considerably more effective also.
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