OTP Bank Romania posts EUR 4.2 mln profit in 2009

OTP Bank Romania posted a EUR 4.2 million profit after tax last year, with the bank ending the second consecutive year with positive results. It almost doubled its operational profit in 2009 on 2008, to EUR 25.6 million, as a result of an increase in total income of 20 percent on 2008 and a growth of net income from interest of over 100 percent. The volume of deposits made by individuals and companies grew by about 33 percent on 2008.

The level of the lender’s provisions for credit risk almost doubled compared with the end of 2008. The rate of arrears over 90 days was 3.4 percent at the end of 2009, the lowest in the group. During the second quarter of 2009, OTP Bank Romania launched the borrower protection program, aimed mainly at individuals with mortgages.

Anda Dragan

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