about us | newsletter | contact | archive | members area
Marius Vacaroiu, Policolor
Tax changes have made us elaborate more budget impact assessments this year»

OTP Bank Romania posted a profit of 6.8 million Euro in the first nine months of 2017

OTP Bank Romania registered an after-tax profit of 6.8 million Euro, in the first nine months of the year, decreasing by three per cent year over year. The bank returned to profit in the third quarter, with four million Euro earnings, after a loss of 1.4 million Euro registered in Q2.

2017-11-15 12:30:44

In the first nine months of 2017, the operating profit surged by 33 per cent year over year, because of lower operating expenses (- four per cent) and eight per cent increase in total income. On the other hand, the operating profit declined by four per cent in the third quarter, due to higher administrative expenses.

Net interest income had a positive trend. It improved by nine per cent compared to the previous year, supported by increasing volume of performing loans. Total risk costs increased by 44 per cent in the first nine months of 2017, due to higher provisions in the second quarter. However, the total provisions dropped by 65 per cent in Q3 because of the base effect and favourable credit quality trends. Thus, ROE improved and exceeded 11 per cent in Q3.

Overall, the performing loans volumes increased by 11 per cent year over year and by four per cent quarter over quarter. The non-performing loans ratio was 15.5 per cent at the end of Q3 (-2.3 percentage points year over year, -1.1 percentage points quarter over quarter).

As for new loan disbursements, the cash loan sales improved by 17 per cent year over year in local currency terms. The new disbursement of mortgage loans declined after the strong Q2, however it improved by 80 per cent in local currency in the first nine months year over year.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  556 Views
Daily Info
Telekom launches the third Smart City pilot project in Romania

Telekom Romania launched in Piatra Neamt, the third Smart City pilot project, after the ones in Bucharest and Constanta. The company’s project is part of the strategy of exp...

First EIB loan to a corporate in Romania's local currency

The European Investment Bank (EIB) is providing the first loan to a corporate in Romania that can be disbursed in local currency; the equivalent of 50 million Euro will be gra...

Romania plays in the big league, says Deloitte survey

On the backdrop of a stable economic context in the region and with growing macroeconomic indicators, Romania has won the deal doers' trust now becoming a core market for priv...

Electrica Group launches its first sustainability report

Electrica Group, leader in the distribution and supply of electric energy in Romania, is launching a sustainability report for 2016, which serves as the first non-financial re...

Some people spend up to six hours a day in meetings, survey says

A global survey recently commissioned by Plantronics on how people in the offices experience meetings revealed that almost 6 in 10 office workers sometimes have between 5 to 1...

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

More on