OTP Bank’s net profit in Romania increased by 83 percent in 2017 compared to the previous year, to HUF 3.04 billion (EUR 9.8 million), due to lowering provisions and improving operating results.
The bank returned to profit in the third quarter, with RON 18.3 million (EUR 4 million) earnings, after a loss of RON 6.6 million (EUR 1.4 million) registered in Q2.
At the same time, OTP Romania’s operating profit rose 9 percent last year to HUF 9.35 billion (EUR 30.2 million). Revenues increased by 2 percent, to HUF 27.14 billion (EUR 87.3 million), while operational expenditures decreased by the same percentage to HUF 17.8 billion (EUR 57.6 million).
Net interest income declined by 3 percent to HUF 19.8 billion (EUR 64 million), and 5 percent to HUF 3.06 billion (EUR 9.9 million).
As for non-performing loans, these declined by 21 percent to HUF 72.13 billion (EUR 233.4 million). The rate of bad loans fell to 13.5 percent from 17.4 percent in 2016.