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Sunday, May 28, 2023

SID Bank reports profit surge as lending up by 10%

By: J.S., STA

SID Banka, the state-owned development bank, nearly trebled net profit in 2021 to EUR 24 million while keeping up high-level of crediting to help the economy recover from the Covid-19 pandemic.

The volume of lending was up by about 10%. The bank’s total assets declined by 2.5% in a year to EUR 2.83 billion as of the end of 2021, which is still 18% above the figure in 2019 before the Covid-19 crisis. In the introduction to the annual report, SID Banka CEO Damijan Dolinar said 2021 was a period of the economy’s adjustment in the wake contraction caused by Covid-19 where the bank helped by retaining a high level of financing.


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