Romanian lender Libra Internet Bank, controlled by investment fund Broadhurst, posted a EUR 1.91 million net profit in the first half of 2014, almost five times higher than in the same period of 2013.

The bank also increased its net assets by 10.9%, to EUR 300 million, at the end of June 2014. The loan portfolio was up 20.8% and the share of non-performing loans in its gross loan portfolio was 12.59%, compared to a 20% average for the Romanian banking system.

Libra Internet Bank is focused on financing projects that are based on new technologies, online services and liberal activities. The bank has a network of 35 units in Romania.

editor@romania-insider.com