OTP Bank ups profit in Romania by 60%

OTP Bank Romania, the local subsidiary of Hungarian group OTP, recorded an adjusted consolidated net profit of RON 19.7 million (EUR 4.24 million) in the first half of this year, up 59% over the same period of 2017. The operational profit dropped by 21% year-on-year, to RON 65.4 million (EUR 14 million) as the revenues were flat at RON 202 million (EUR 43.4 million), but the operational expenses increased 13%, to RON 137 million (EUR 29.4 million). The lower risk costs, however, helped the lender improve its bottom line. OTP Bank increased its performing loan portfolio by 12% year-on-year, by June 2018, due to a 23% increase on the corporate segment. The bank’s total assets were RON 9.9 billion (EUR 2.13 billion) at the end of June. OTP Bank gives up Banca Romaneasca takeover editor@romania-insider.com