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).
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).