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Slovak banks' profits up 23.8 pct in 2016

Xinhua, February 7, 2017 Adjust font size:

Profits of Slovak banks soared 23.8 percent year on year in 2016 to 750 million euros (805 million U.S. dollars), data released by the Slovak Banking Association (SBA) showed on Monday.

A significantly positive effect for the profitability of the Slovak banking sector in 2016 wa provided by Visa Inc's acquisition of Visa Europe.

One-shot dividend incomes and financial operation yields also had positive effects on profitability last year, SBA said, adding that these items increased the sector's yields by 238 million euros.

But net interest incomes, the main source of income for Slovak banks, fell 4.1 percent year-on-year due to low interest rates.

Bank loans provided to the public rose by 13.4 percent, with corporate loans up by 5.3 percent. Endit