Sampo Bank's Half-Year Profits Increase 35%
In the first half of the year, Sampo Bank earned a pre-tax profit of 40.8 million euros, a 35 percent increase from the 30.2 million euros made during the same period last year.
The bank's operating costs for the first two quarters were 13.3 million euros, while revenue was 32.2 million euros. The higher profits were reached mainly due to reversals of loan impairment charges amounting to 21.9 million euros, according to the bank's financial report.
The bank's total loan portfolio declined in Q2. The total amount of loans and leasing at the end of the quarter was 1.26 billion euros, down by 240 million from the same period last year.
Total deposits at the end of June amounted to 1.42 billion euros, compared to 1.68 billion euros last year.
Robin Ilves