Romanian lender Libra Internet Bank exceeds 1% share in local banking system

Local lender Libra Internet Bank exceeded a market share of 1% at the end of June, after its assets went up by 45% year-on-year reaching RON 4.15 billion (EUR 904 million). The bank’s profit saw a slight decrease during this period, amounting to RON 24 million (EUR 5.2 million), reports local Wall-street.ro. By comparison, the lender had a profit of RON 25 million and assets of RON 2.86 billion (EUR 623 million) in the first six months of 2016. Libra Internet Bank’s return on assets was almost 0.6% in the first six months of this year, half of the banking system's average. The non-performing loan ratio amounted to 2.4% in the first six months of this year, well below the market average. Libra Internet Bank has a network of 50 branches in Romania. Its customers include small companies, freelancers or companies in real estate and agribusinesses. editor@romania-insider.com