OTP Bank Romania turned to profit in the first nine months of this year, posting a profit of EUR 5.5 million, after announcing a loss during the same period of 2010.

The profit was mostly due to halving provisions, and a growth in its operational profit. “Mortgage loans have been those that caused most problems on the Romanian market. Overdue loans exceeding 90 days increased with over 1 percentage point in the third quarter and reached 13 percent of the total portfolio,” according to the OTP group.

The bank reached a loan portfolio of EUR 1.26 billion at the end of September, up 8 percent year-on-year.

Its nine-month revenues stood at EUR 59 million, a growth of 3 percent year-on-year.

Corina Saceanu, corina@romania-insider.com