Bancpost’s net profit amounted to RON 28.6 mln in H1 on slashed expenses/NPLs

Newsroom 12/09/2016 | 15:12

Bancpost reported a net profit of RON 28.6 million in the first semester of the year, mentioning that its ratio of bad loans has continued to go down, alongside the operational expenses.

The total assets remained stable in the first semester (+1.3 percent compared with the first semester of 2015), client deposits rose by 11 percent to RON 8.7 billion, while the gross loans volme reached RON 5.7 billion.

“It is important that Bancpost maintained its profitability in the first semester, despite the challenging environment characterized by low interest rates and adverse legislative initiatives. We have attained this positive result due to our sustainable business model and strong customer orientation,” said Philippos Karamanolis, executive president of Bancpost.

The quality of the loan portfolio improved, with the ratio of non-performing loans decreasing to 10 percent compared to 16.3 percent in the same period of 2015. Its operational expenses were cut by 9.1 percent.

Bancpost operates through a network of 147 branches and 7 corporate business centres. The lender has around 1 million corporate and retail clients and has over 530 ATMs, 6,100 POS units and 190 APS terminals.