Zagrebacka banka (ZABA) Q3 2024 earnings summary

Executive summary

• Achieved €456 million net profit after tax for the first nine months of 2024, up €52 million (+12.9%) year-over-year.

• Business income rose to €783 million (+10.3%), with strong growth in key segments and market leadership maintained.

• Operational excellence reflected in cost control and robust capital and liquidity positions.

• Continued focus on digital transformation, ESG ambitions, and community support.

Financial highlights

• Net interest income: €544 million, up €41 million (+8.2%) year-over-year.

• Net fee and commission income: €173 million, up €11 million (+6.8%).

• Trading and other income: €66 million, up €21 million (+46.7%).

• Operating expenses: €257 million, up €13 million (+5.3%).

• Cost-to-income ratio: 32.82%.

• Operating profit before impairments: €520 million, up €60 million (+13.0%).

• Net loans to customers: €13,595 million, up €947 million (+7.5%).

• Customer deposits: €20,371 million, up €305 million (+1.5%).

• Total assets: €25,430 million, up €838 million (+3.4%).

Outlook and guidance

• Macroeconomic uncertainty and geopolitical tensions continue to pose indirect risks.

• The group maintains a strong capital and liquidity position and continues to monitor and adapt to evolving market conditions.