The operating result improved by 29.7% to RON763.4 million (EUR155.2 million) in 1Q/2023, from RON588.5 million (EUR119.0 million) in 1Q/2022, amid rising operating revenues, partially offset by higher operating expenses.
Net interest income went up by 34.0% to RON883.2 million (EUR179.5 million), from RON659.2 million (EUR133.3 million) in 1Q/2022, amid rising business volumes doubled by higher interest rates.
Net fee income dropped by 2.6% to RON220.4 million (EUR44.8 million), from RON226.2 milloon (EUR45.7 million) in 1Q/2022.
The net trading result shrank by 7.9% to RON137.2 million (EUR27.9 million) in 1Q/2023, from RON149.0 million (EUR30.1 million) in 1Q/2022, because of a falling number of foreign exchange deals.
General administrative expenses reached RON489.8 million (EUR99.6 million) in 1Q/2023, up 3.8% from 1Q/2022 on rising personnel expenses generated by the inflationary environment, partially offset by the smaller annual contribution to the deposit guarantee fund in 2023.
The cost/revenue ratio improved to 39.1% in 1Q/2023, from 44.5% in 1Q/2022.
(English version by Catalina Apostoiu)