Hungary’s OTP Bank reported a net profit of HUF 1.6 billion (EUR 5.4 million) in the first half of this year in Romania, after losses of EUR 7.7 million in the same period the previous year. The bank registered an operating profit of HUF 4.89 billion (EUR 15.9 million), up from HUF 3 billion (EUR 10.1 million) reported in the period in 2013.

The total revenues went up 17% year-on-year, to HUF 11.3 billion (EUR 36.9 million). OTP Bank Romania’s assets increased by 3% in this period, to HUF 465.47 billion (EUR 1.51 billion).

OTP Bank Romania recently bought the local subsidiary of Portuguese Millennium Bank.

Irina Popescu, irina.popescu@romania-insider.com