OTP Bank Romania trims losses y/y 20% in Q4, 2007

OTP Bank Romania trims losses y/y 20% in Q4, 2007
 
OTP Bank Romania, the local unit of Hungary's OTP Bank, reduced its losses by 19.5 percent over the last three months of 2007 against the same period in the previous year, a preliminary report from the mother bank reads.

Losses over the entire 2007 stood at 11.16 million euros, a 1.54 percent deepening from the previous year.

The lender's total assets reached 987.2 million euros rising 29.4 percent. The volume of granted credits hiked 60.8 percent from the end of 2006 and the most incisive growth, 90.4 percent was seen on the corporate segment. Total deposits hiked 72.5 percent in 2007.

The report mentioned that losses posted by the Romanian branch were less than estimated and underlined the dynamic expansion of the network by opening 28 new units in the fourth quarter.

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