OTP Bank has revised its asset growth outlook on its Romanian operations from 9% to 3-5%, said Laszlo Diosi, chief executive of OTP Bank Romania.

“This is the third successive month of asset growth, and by the end of the year, we expect 3.5% increase”, said Diosi.

The head of OTP’s local subsidiary says the bank will remain profitable for the remainder of the year, but profits will be lower than in 2009.

Diosi added that there are no reasons to worry about the Romanian economy, because it will recover eventually, maybe later than planned.

“A disastrous measure would be the raise of income tax for population, or of profit tax for companies, it would be worse than a VAT hike”, said CEO of OTP.