Profit in Slovak bank sector growing

In the first half of 2019, the Slovak bank sector recorded a growth 2.2% year-on-year to €345.6 million according to the National Bank of Slovakia. The Slovak Banking Association stated that the reason for the increase lay in dividends and decreased administration fees. On the other hand, decreased revenues from financial operations pushed the sector down. The number of loans grew year-on-year by 6.3%, however, the tempo of their growth fell from 12% in 2018 to 8.5% in first half of 2019. In the same period, the number of housing loans declined by 3.7% with an average interest rate of 1.48%.