Bancpost ups profit while reducing bad loans in Romania

Local lender Bancpost recorded in the first quarter of 2015 a net profit of EUR 5.6 million, more than double – up 145% year-on-year. The share of non-performing loans dropped to 16.3%, from 21% in the first quarter of 2014. The bank’s operating revenues increased by 7% year-on-year, while operating expenses fell by 16%, after the bank resized its network. The cost vs. income ratio also improved by 20%. The credit/deposit ratio remained below bar, at a level of 84%. Bancpost managed to attract a high volume of resources from international financial institutions, such as the European Bank for Reconstruction and Development or the European Investment Bank. editor@romania-insider.com