“Thanks to our growth strategy based on a balanced market policy and cost management, we have succeeded in increasing our profit almost fivefold, from RON1.7 million in the year-ago period,” the bank’s chief executive Emil Bituleanu said in a statement.
Libra Bank, a unit of American investment group New Century Holdings, reported assets of RON1.33 billion at the end of June, up 11% from RON1.2 billion in December last year.
The bank’s loan portfolio rose 20.8% year-on-year, while the non-performing loans ratio declined to 12.6%.
Founded in 1996, Libra Bank runs 35 offices in Romania and serves mainly corporate and SME customers. (EUR1=RON4.425)