Slovakia banking sector profits up 0.5 pc in 2019

Profits of Slovakia's banking sector increased only slightly last year, by 0.5 percent to 643 million euros, however, profit before tax fell by 1.5 percent, according to preliminary non-audited figures released by the Slovak central bank (NBS) on Tuesday. Meanwhile, the Slovak Banking Association (SBA) noted that profitability growth was positively influenced by lower creation of provisions and reserves, lower other administrative expenses and received dividends. "On the other hand, net interest income, which fell by 2.8 percent year-on-year, and trading income had a negative impact on profitability growth," the SBA added. Net fee income grew by 2.5 percent year-on-year.