Hungarian lender OTP Bank posts EUR 2.4 mln net profit in Romania

Hungarian lender OTP Bank recorded last year in Romania a net profit of EUR 2.47 million, despite the net loss of EUR 5.18 million in the fourth quarter.The negative result was due to the increase in risk costs. In 2013, OTP Bank Romania recorded a net loss of EUR 13.8 million. The total revenue rose by 15% last year, from EUR 68.37 million in 2013 to EUR 75.8 million in 2014. The operating profit went up by 37% on 2013, from EUR 23.9 million to EUR 31.7 million. This was thanks to an increase in the net income from interest rates and a growth in the consumer loan share in the banks’ portfolio. The net revenue from interest rates grew by 36% last year, to EUR 62.8 million, whereas the income from fees and commissions went up by 7% to EUR 7.7 million. However, the net income from other sources dropped by 59%, to EUR 5.1 million. editor@romania-insider.com