30.7.2025

Results for H1 2025

Under moderate economic growth and prolonged global uncertainty, Stopanska banka achieved significant financial results in the first half of 2025. The continuous positive results are a confirmation of the strong position and the responsible management of the Bank in maintaining liquidity, stability and profitability in conditions of complex challenges, which promotes trust among customers in the long term.

The Bank achieved profit before tax of 2,022,904 thousand denars, which is 2% higher compared to the same period last year. In accordance with the global tax regulation, Stopanska calculates income tax by applying an effective tax rate of 15%, which caused an increase of 42% in this category compared to the analyzed period last year and accordingly reflected in a decrease in profit after tax. Thus, the realized profit after tax in the first half of the year amounted to 1,741,289 thousand denars and decreased by 2% compared to the same period last year.

Interest income amounted to 2,908,376 thousand denars and decreased by 6% compared to the same period last year as a result of the decline in interest rates, while income from commissions and fees decreased by 7%, as a result of increased expenses from commissions charged by suppliers of the relevant services and the simultaneous reduction of commissions for certain services in the interest of clients. Income from exchange rate differences increased by 30%, which indicates an increased volume of activities in the market. Other income from the activity amounted to 471,802 thousand denars and significantly increased by 95% as a result of the collection of written-off receivables, while operating expenses amounted to 1,317,871 thousand denars and were maintained at a controlled level as a result of the Bank's operational efficiency in terms of controlling operating costs.

Maintaining the highly prudent approach to managing the quality of the credit portfolio, in the analyzed period the Bank allocated an impairment of financial assets and a special reserve for off-balance sheet exposure, on a net basis, in the amount of 555,830 thousand denars, lower by 27% compared to the previous year, primarily as a result of the quality of the credit portfolio and the lower need for provisions, and the successful management of the business lines within the established framework of acceptable risk appetite.

The Bank's total assets in the first half of the year amounted to 150,453,024 thousand denars, which represents a growth of 4% compared to the previous year. The credit portfolio continues with a moderate growth of 2%, with loans to and receivables from other clients net amounting to 101,179,234 thousand denars. Investments in securities remain stable, with a value of 16,611,480 thousand denars, while other receivables increased by 30%, reaching 2,959,128 thousand denars.

Capital and reserves amount to 27,001,032 thousand denars, which is a decrease of 8% compared to the end of 2024, primarily due to the decision made at the last Shareholders Assembly to pay a dividend on ordinary shares in the gross amount of 3,998,444 thousand denars, i.e. 229 denars per share. The dividend payment was made during July 2025. The Meeting simultaneously decided to capitalize part of the profit in the amount of 3,670,382 thousand denars and increase own funds, thus the capital adequacy ratio in June is 20.54%.

In the first half of the year, Stopanska Banka continued to upgrade its projects that focus on environmental protection, inclusion and creating a better world for all. The "Green Wall" project continued with the planting of new tree seedlings in Skopje, in order to enrich the Magnolia Park in the City Park. The ninth edition of "Vozi pravo, vozi zdravo" was successfully implemented with more than 9,000 participants in a joint mission to promote urban cycling. In June, the Bank launched a study room for students from the Faculty of Medicine at the University "Sts. Cyril and Methodius" - Skopje, with a modern and practical interior.

In the coming period, business activities will continue in accordance with the defined business plan of the Bank with a full focus on customer support, prudent risk management and maintaining high stability, security and efficiency in all segments of its operations. The Bank also continues with the implementation of the initiated projects, primarily in the area of digitalization, as well as the preparation of an offer of new services. Of course, the focus remains on the regular and efficient execution of core business activities, maintaining the leading market share in the retail lending segment, with a focus on further increasing market share in corporate lending.

The new head office building is already being intensively constructed in accordance with ESG standards and using energy-efficient materials.
The Bank remains focused on the digital transformation project announced last year and which in the coming years will include significant capital investments in new technologies, solutions and all-round improvement of the working environment and the team spirit for our colleagues.

Stopanska banka AD - Skopje