December 21, 2018 / 12:37 PM / 9 months ago

Slovenian banks' Jan-Oct net profit up 5.4 pct, bad loans down

LJUBLJANA, Dec 21 (Reuters) - Slovenian banks made a joint net profit of 409.6 million euros ($467.68 million) in the first ten months of 2018, up by 5.4 percent compared to the same period of last year, partly due to a fall in bad loans, the Bank of Slovenia on Friday.

It added banks managed to reduce non-performing loans to 1.8 billion euros by the end of October or 4.3 percent of all loans, versus 4.5 percent a month earlier and 6 percent at the end of 2017.

It said in a report that balance sheet assets decreased by 0.3 percent month-on-month in October but were 2.2 percent higher than a year ago. Loans to the non-banking sector rose by 5.8 percent year-on-year.

Slovenia only narrowly avoided an international bailout for its banks in 2013. The government still owns some of the biggest banks and controls about 30 percent of the banking sector.

The rest are mostly owned by foreign banks and investors, including US investment firm Apollo Global Management, French bank Societe Generale, Italy’s Unicredit and Intesa Sanpaolo, Russia’s Sberbank and Austria’s Sparkasse and Addiko Bank.

$1 = 0.8758 euros Reporting By Marja Novak; Editing by Kirsten Donovan

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