Get real time updates directly on you device, subscribe now.
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.
DONATE: Support our work
In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:
Donate with PayPal
Donate by Bank Wire
Black Zonure SRLUniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002