OTP Bank Romania starts foreclosing procedures against bad debtors

Ana Sabiescu, 18 Aug 2009

Romanian version

OTP Bank Romania, fully-owned subsidiary of OTP Group swung back on profit in first half this year, after posting 4.5 million euros growth in second quarter. However, the bank started the foreclosure proceedings against borrowers falling behind payment, Lazlo Diosi, CEO OTP Bank Romania said in an interview to Wall-Street.

Slide 4 / 4

2.02 million euros profit in first half 2009

OTP Bank Romania said it swung back to profit in first half this year, reporting profit after tax of 586 million forints (2.02 million euros), compared to 1.2 million forints loss (4.7 million euros) a year earlier.

The 725 million forints (2.46 million euros) loss in the first quarter 2009 reported by the Romanian subsidiary of the Hungarian-based OTP was followed by a 1,311 million forints (4.59 million euros) profit in 2Q 2009.

The bank’s loan book reached 303.5 billion forints (1.11 bn euros), down 4.2% from a year earlier.

Non-performing loans, namely loans 90 days past due, accounted to 1.9% of the bank’s total lending in the six months through June, as compared to 0.6% in year-ago half.

After the significant deposit withdrawals in 4Q 2008, deposits grew by 22.1% in the first 6 months 2009 year-on-year, up to 88.18 billion forints (324 million euros).

4/4

Article comments "OTP Bank Romania starts foreclosing procedures against bad debtors"

Opinia cititorilor nostri este importanta pentru noi, Wall-Street incurajand publicarea comentariilor voastre. Pe site urmeaza sa isi gaseasca locul numai comentariile pertinente, on-topic, prezentate intr-un limbaj civilizat, fara atacuri la persoane / institutii. Ne rezervam dreptul de a elimina orice comentariu care nu corespunde acestor principii, precum si de a restrictiona accesul la comentarii utilizatorilor care comit abuzuri grave sau repetate.