Bosnia and Herzegovina, Energy company EP HZHB said that it will obtain a loan in the amount of 5.1 million euros from UniCredit Bank

, SEE Energy News

Bosnian state-owned power utility EP HZHB said that it will obtain a loan in the amount of 5.1 million euros from local UniCredit Bank.

The statement from the company said that UniCredit Bank was the sole bidder in a tender for the provision of the one-year loan. However, another tender launched by the company, which also envisaged procurement of a 5.1 million euros loan failed to attract any offers.

Last month, EP HZHB said that it will obtain two loand worth a combined 7 million euros from two local banks – Raifeissen Bank BiH and ASA Banka. The utility launched two tenders for the two loans. In the first tender for a 5 million euros loan, which attracted three offers, an offer of Raifeissen Bank BiH was selected as best. The second tender for a 2 million euros loan attracted only one offer of ASA Banka. Both loans have a maturity of one year .

EP HZHB, the smallest of the three utilities in Bosnia and Herzegovina, recorded a slight decrease of its net profit in the first half of 2022. Its net profit dropped to 10.1 million euros in the first six months of 2022, compared to a net profit of 10.2 million euros recorded in the same period last year. The company’s operating revenues in the first half of 2022 rose by 4.4 % and reached 102.6 million euros, while operating expenditures also increased by 3.1 % to 88 million euros.