OTP Bank Romania makes first-time profit in Romania in Q3 gaining 14m leiPublish date: 17-11-2008
OTP Bank Romania, the unit of Hungary's largest bank OTP Bank Nyrt., announced it ended the third quarter this year with a net profit of 14 million lei, despite nine-month losses of 4 million lei, making a first-time profit in Romania.
Losses after paying taxes in the first nine months this year reduced 87.6 percent over the similar period last year.
Incomes advanced an annual 57.8 percent in the first nine months to 163.9 million lei and revenues from commissions soared 244 percent to 29 million lei. Spending grew 16.1 percent 147 million lei over September last year. Assets added 36.1 percent year-on-year to 5.5 billion lei after credits nudged up 52 percent to 4.37 billion lei.
Externalized loans to the mother bank reached 2.1 billion lei. Retail credits rose 68.1 percent to 2.46 billion lei while the whole loan portfolio increased 35.1 percent to 1.9 billion lei.
Deposits grew 26.7 percent t 1.2 billion lei helped by a 34.6 percent rise in deposits from clients.
OTP Bank's non-performing loans fell slightly to 4.9 percent in the first nine months this year over 5.1 percent in the similar period last year.
The lender's market share reduced with 0.2 percentage points to 1.3 percent towards the end of the third quarter.
OTP Bank Romania reached a web of 105 units by the end of September and its headcount grew to 1,120.
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