At the same time, the bank’s operating income amounted to HRK 4.41 billion, which is an increase of HRK 792 million or 21.9% on the year.
Furthermore, the bank’s unconsolidated and unaudited financial report notes that operating expenses amounted to HRK 1.57 billion, down HRK 17 million on the year, with cost-to-income ratio amounting to 35.7%.
Deposits by clients, which constitute a primary source of financing, amounted to HRK 107.23 billion, which is an increase of HRK 8.9 billion, while deposits by credit institutions amounted to HRK 2.6 billion, down by HRK 3.13 billion, mostly due to a decrease in within-group financing and deposits by other banks.
Zaba group posts net profit of almost HRK 1.5 billion
According to the group’s consolidated unaudited financial statement, the Zagrebačka Banka Group generated a net profit of almost HRK 1.5 billion, up by HRK 495 million or 49.3% from 2020.
The group’s operating income amounted to HRK 4.7 billion, up HRK 87 million or 1.8% year on year, while operating expenses amounted to HRK 2.2 billion, about the same as in 2020.
Results still impacted by disruptions caused by pandemic
The bank said that the bank’s results were still influenced by disruptions caused by the COVID-19 pandemic.
However, the decrease in operating income was compensated for with lower expenses of value adjustments on loans as a consequence of economic recovery in 2021, the bank said in its financial statement.
