Banking sector’s net profit was down 61% to €64m in the first quarter
The banking sector’s net profit was down 61% to €64m in the first quarter. SLSP posted a €26.1m profit (-45%), VÚB €14m (-60%) and Tatra banka €23m (-14%). Poštová banka posted a 16% drop to €10m and ČSOB a €2.5m loss. Besides falling interest rate revenues, the banks blame the poor performance on the doubled banking levy (€75m in 1Q). Without the levy, their profits would be down just 24%.