Tatra banka posted a 21% annual drop in net profit
Tatra banka, part of Austria’s Raiffeisen, posted a 21% annual drop in net profit to €106.3m in 2020. The drop came on the back of a €46.2m increase in reserves against bad loans to €64.3m. The bank reduced reserves against court cases by €18.1m and labor costs by €14m. Loans to clients rose 4% (mortgages +7%). Its 2% increase in net interest revenue stems from higher dividends paid out by subsidiaries. The bank also managed to increase its fee revenue 8%.