HPB generates record profit in 2015

The Croatian Postal Bank (HPB) achieved a record net profit last year of HRK 123 million and increased its total capital to HRK 1.7 billion and the number of clients has grown to more than 640,000, HPB reported on Wednesday.

"In an extremely demanding year - 2015 - HPB managed to inject fresh capital with the participation of private investors, implement reorganisation, improve business efficiency, attract new clients and generate the best business results in corporate history," the bank said in a press release.

HPB ended 2015 with a record operating profit of HRK 324 million which is 8.1% more than in 2014. The bank's net profit was HRK 123 million, which is a record high in the bank's corporate history.

The bank underscored that 60% of its operating profit was allocated for provisions and added that the coverage of non-performing debts last year had increased by 2.9 percentage points to 64.1% which is significantly higher than the mean in the banking system (at the end of September 2015 that amounted to 54.4%).

Last update: Wed, 20/01/2016 - 12:26

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