OTP Bank posts EUR 5.5 mln profit on H1

Newsroom 19/08/2011 | 15:49

OTP Bank Romania posted a profit of EUR 5.5 million in H1, up from a negative EUR 7.4 million in the first half of 2010. Total income reduced by 1 percent to EUR 40 million. Net interest income increased by 8 percent to EUR 33 million, in the first half of 2011. Net fees and commission income dropped by 4 percent to EUR 4.5 million. Provision reduced by 54 percent to EUR 10 million. The operating expenses slightly reduced by 1 percent to EUR 24.6 million, in the first half of 2011.

The banks total assets value decreased by 5 percent to EUR 1.5 billion. The gross volume of customer loans increased by 1 percent to EUR 1.5 billion, with increases of 1 percent, respectively 2 percent for retail loans and corporate loans. The volume of deposits from customers decreased by 15 percent to EUR 360.3 million, with corporate deposits dropping 44 percent. The level of non-performing loans increased by 47 percent to EUR 150 million.

The cost-income ratio reached 61.3 percent in the first half of 2011, while the loan to deposit ratio increased to 319 percent.

In the first six months of 2011, OTP Bank Romania operated 101 bank branches, 132 ATMs and 1,262 POS’s. The number of banking clients increased from 219.000 at the end of 2010 to 232.000 in the first half of 2011. Staff was reduced from 1,104 to 981.

The Hungarian OTP Group controls OTP Bank Romania, OTP Leasing Romania, OTP Consulting Romania and OTP Asset Management Romania.

 

Ovidiu Posirca

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