In the first half of the year, VÚB Bank significantly increased its profits, closing in on the top-earning Slovak Savings Bank, Slovenská sporiteľna. Banks in Slovakia overall witnessed a 50% year-on-year growth in profits, reaching a total close to 565 million euros. Despite this progress, they remain below the average for banks in the Central and Eastern European region. The principal cause for this surge is attributed to a 30% upturn in net interest income, stimulated by rising interest rates and ongoing, though diminished, credit growth. Of all banks, VÚB Bank showed the greatest profit growth, almost doubling to 135 million euros, thereby nearly equaling the earnings of Slovenská sporiteľna, which increased to 138 million euros.
Source: e.dennikn.sk
