Zagrebačka banka (Zaba) achieved a net profit of EUR 108 million in the first three months of this year, which is EUR 26 million or almost 32 percent more than in the same period last year, according to the financial report published on Thursday, reports HINA.

The bank's operating income in that period reached 174 million euros and was 35 million or 25.2 percent higher than a year earlier.

At the same time, net income from interest increased by 70 percent, to 119 million euros, and net income from commissions and fees by 11 percent, to 40 million euros.

Net profit from trading and other income and expenses amounted to EUR 15 million in that period and were 53 percent lower, mostly due to lower income from dividends and profit from trading, according to the bank.

Operating costs in the first quarter reached EUR 57 million, or 9.6 percent more than last year.

"Operating revenues have increased, we have managed the inflationary pressures on costs well. The capital and liquidity position are tight, the assets are sufficiently covered by loan provisions", the Bank's Management stated in the financial report.

The bank's assets at the end of March were 19.18 billion euros, which is 792 million or 4 percent less than a year earlier.

The Zagrebačka banka Group, on the other hand, achieved a net profit of EUR 119 million in the first quarter, which is EUR 36 million or 43.4 percent more than in the same period last year.

Business revenues increased by 212 million euros or 60.6 percent more than last year.

The group's assets at the end of March amounted to 29.93 billion euros and were 729 million or 3.1 percent lower, the financial report shows.