November 29, 2017 / 11:26 AM / a year ago

Slovenian banks Jan-Sept net profit up by 18 pct y/y

LJUBLJANA, Nov 29 (Reuters) - Slovenian banks increased their joint net profit to 343.1 million euros in the first nine months of 2017, up from 290.6 million in the same period last year, the Bank of Slovenia said in a report on Wednesday.

It added that banks managed to reduce bad loans to 2.95 billion euros or 7.1 percent of all loans by the end of September versus 7.2 percent a month before.

Accumulated loans to the non-banking sector were up by 6.5 percent year-on-year in September.

“The growth of loans to non-financial firms is rising and reached 8.1 percent year-on-year in September, .... while loans to households increased by 7.7 percent,” the bank said.

Slovenia, which managed to narrowly avoid an international bailout for its banks in 2013, returned to growth a year later and banks have since managed to significantly reduce bad loans.

Some of the biggest banks are still state-owned and the government controls about 45 percent of the banking sector.

The rest are owned by foreign banks and investors, including U.S. investment firm Apollo Global Management, France’s Societe Generale, Italy’s Unicredit and Intesa Sanpaolo, Russia’s Sberbank, Austria’s Sparkasse and Addiko Bank.

Reporting By Marja Novak, editing by David Evans

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