Preliminary non-audited unconsolidated results show Vseobecna Uverova Banka (VUB) profit at SKK 1.686 billion in 2002. In 2002 the bank earned a profit of SKK 1.429 billion. VUB operating profit grew 30.5 percent y/y to SKK 2.5 billion in late 2002, spokesman Marian Horvath informed SITA.

The profit was influenced by the bank’s principal transformation, stated its director general Tomas Spurny. „VUB had to cope with residual risks stemming from the bank’s pre-privatization lending policy,“ he said. Operating cots rose to SKK 5.2 billion.

The balance sheet total of VUB increased 13 percent y/y to SKK 203.8 billion. The bank registered SKK 144.966 billion in client deposits and SKK 1.384 billion in certificates of deposit. The volume of negotiable securities on stock was SKK 67.191 billion. Loans provided to clients grew 13 percent y/y to SKK 46.2 billion. The net book value of classified loans has almost halved to SKK 2.7 billion, stated Mr. Horvath.

VUB provided 3,873 mortgages amounting to SKK 2.59 billion in 2002. Since 1997 when VUB introduced mortgage lending it has provided 7,946 mortgage loans at aggregate volume of SKK 5.355 billion. The bank provided 14,252 consumer loans totaling SKK 1.782 billion last year. Their aggregate number thus grew to 26,222 and the aggregate volume to SKK 3,126 billion.

In 2002 VUB issued 539,000 debit cards, up 14 percent y/y, and over 36,000 credit cards. It operated 4,403 POS terminals in late December, an increase of about 75 percent y/y. Simultaneously, the bank operated 406 ATM machines, up 17 percent y/y. The number of clients using its e-banking services jumped by 180 percent to reach 235,780.

Italian IntesaBci is the majority shareholder in VUB, controlling 94.5 percent. The bank’s network comprises 247 branches.