Komercijalna Banka Skopje announced earnings results for the six months ended June 30, 2014. For the six months, the company announced net loss of EUR 2.3 million, which represents an improvement from the EUR 6.5 million loss in the corresponding period last year. The main contributor to the negative result was an impairment provision on executed collateral, taken in compliance with local Central Bank regulations.

Profit before taxes and provisions was up 2% year on year. The company finished 2013 with a small profit, and despite the loss for the first six months of 2014, slightly higher profits are expected for this year. The company grew its net interest income by 5% year on year, with a healthy net interest margin of 3.7%, while commission income was almost flat.

Net asset value per share was EUR 0.26.