ASA Banka triples net profit

(Patria) - ASA Banka shares rose significantly in March, gaining more than 7 percent in value, which can be linked to the bank's business results in 2022, reports Indikator.ba.

The bank, which on December 1 last year merged with the former Sberbank BH (temporary name ASA banka Naša i snažna) and thus became the third largest bank in the Federation, achieved a profit after tax of 18.85 million KM.

This result is significantly better than in 2021 when the profit was 6.71 million KM, when the bank operated independently, without the merged bank.

The bank's total assets rose to 2.80 billion KM, to which the former Sberbank contributed significantly, with about 1.8 billion KM, since ASA Banka's assets before the merger amounted to about 1.0 billion KM.

The bank has total capital of 336.5 million KM, after having 93.5 million KM in 2021.

With the acquisition of Sberbank, all other indicators have also improved, with the number of branches increasing to 67, and the number of employees to 667.

ASA Banka shares, which were priced at 90 KM at the end of February, rose during the last ten days to a rate of 96.50 KM on March 9, representing a growth of 7.2 percent. On the last trading day of last week, March 10, it recorded a slight correction and closed at a rate of 96.40 KM.

Otherwise, the price of ASA Banka shares has been catapulted since the beginning of the third quarter of 2022, when the merger with Sberbank BH was announced. Its price has more than doubled since then, when it was around 45 KM.

ASA Finance is the largest shareholder of ASA Banka with a 89.09 percent stake, ZIF prevent INVEST d.d. Sarajevo owns 2.4 percent, Nermina Čago has 0.59 percent, etc.