OPT Bank Romania cuts losses to EUR 14 mln in 2013 on lower provisioning

Newsroom 10/03/2014 | 14:35

OTP Bank Romania has seen a 25 percent reduction of losses to EUR 13.9 million last year, on the back of the increased operational profit and lower provisions, reports Mediafax newswire.

The banking income added 3 percent to EUR 68.6 million, sustained by growth in fee income. Net income from other sources soared 74 percent to EUR 13 million. The lender has cut expenses by 1 percent to EUR 44.5 million.

Provisioning of non-performing loans (NPLs) was cut by 11 percent to EUR 37.7 million in 2013.

OTP Bank Romania cut losses in the fourth quarter by 31 percent to EUR 8.2 million, while the operational profit soared 39 percent to EUR 6.7 million. The banking income grew by 15 percent to EUR 18.4 million, while expenses added 4 percent to EUR 11.6 million.

The gross loan book has increased by 4 percent to EUR 1.35 billion, while deposits added 29 percent to EUR 533 million.

The bank’s total assets fell 3 percent to EUR 1.59 billion.

Hungary’s OTP Group controls in Romania OTP Bank, OTP Leasing Romania, OTP Consulting Romania, OTP Asset Management Romania, OTP Real Estate Services Romania, OTP Advisors Romania and OTP Factoring Romania.