The leap to €110.7m from last year’s €64.4m was attributed to continued growth in the balance sheet and the absence of two exceptional items that impacted on the previous year’s figures, the bank stated.
These two items included the impact of the compensation on its property fund and adjustments to financial instruments.
However the bank also said that the core operating profit of €100.3m for this financial year was very much in line with that of the previous year (2011: €100.2 m).
This confirmed that the retail and corporate businesses of the BOV group continued to perform steadily against the backdrop of uncertainty in the international financial markets, the bank added.
