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Sunday, February 5, 2023

Bad bank ups pre-tax profit by 57% to EUR 63m last year

By: J.S., STA

The Bank Assets Management Company finished 2021 with EUR 178.4 million in revenue from asset management and a pre-tax profit of EUR 63.2 million, up by 57% year-on-year.

The average annual return on equity, whose target value under law is set at 8%, reached 25%, the annual report shows. From its inception in March 2013 until the end of last year, the bad bank generated over EUR 2.083 billion in revenue, which is 100.2% of the cumulative transferred value of assets it got from commercial banks.

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