OTP Bank Romania reports losses in Jan-Sep, amid loan loss provisioning
In contrast to the performances of larger banks operating in Romania, the local subsidiary of the Hungarian financial group OTP, OTP Bank Romania, announced a RON 15 mln (EUR 3 mln) loss for the first nine months of 2022. The result was…
Andrei Chirileasa · Journalist
· Updated · 1 min read
In contrast to the performances of larger banks operating in Romania, the local subsidiary of the Hungarian financial group OTP, OTP Bank Romania, announced a RON 15 mln (EUR 3 mln) loss for the first nine months of 2022. The result was caused by the increase in total provisions to RON 151 mln, the company said.
The bank's capital adequacy ratio, however, increased to 21.54% vs 20.78% at the end of September 2021, against the background RON 200 mln capital increase in December 2021.
Operating profit rose by 67% YoY to RON 146 mln in the nine-month period, following the positive effect of a dynamic 20% increase in total revenues.
The volume of performing loans increased by 13% YoY as of the end of September, supported by a 19% increase in the corporate lending segment, while lending to the retail segment increased by 7%.
(Photo source: OTP Bank)
