In the first half of 2022, BKS Bank made a profit for the period of 30.7 million euros. In the first half of 2021, the surplus was still 36.6 million euros. The total balance sheet increased by 1.2% to €10.7 billion due to the expansion of the deposit and lending business.
CEO Herta Stockbauer explained that “thanks to good operating business, we can report an increase in net interest income before risk provisions to €69.6 million (plus 3.2 percent). Given the difficult interest rate situation, this is the first result.” . “However, due to deteriorating macroeconomic factors, we have increased the risk allowance from 9.5 million euros to 13.4 million euros. As a result, net interest income after risk provisions decreased by 3 per cent from 56.3 million euros.”
Receivables from customers increased by 2.7 per cent to €7.2 billion. Stockpower: “In light of the deteriorating economic situation, we are satisfied with this increase.” Initial deposits increased from 8.1 billion euros to 8.2 billion euros since the beginning of the year. “Liquidity reserves and savings are still held primarily in the form of time and deposits, even if they, like savings deposits, are severely affected by the depreciation of money due to rising inflation,” Stockbauer says.
BKS emissions have crossed the one billion euro mark for the first time. A net commission income of €35.4 million (plus 6.1 percent) contributed significantly to the result, with only commissions increased from payment transaction services and an increase in lending business.