The bank, a unit of American investment group New Century Holdings, posted a net profit of RON1.64 million, down 38.6% from the first quarter of 2012, as it was hurt by higher investment costs.
“Libra Internet Bank remained in positive territory after the first quarter of 2013, just like in the last three years,” the bank’s chief executive Emil Bituleanu said in a statement.
Libra Internet Bank reported total loans of RON596.5 million at the end of March, up 16% from December 2012.
The bank’s return on assets stood at 0.77% at the end of March, while the return on equity was 4.02%, up from 3.82% in December last year. The loan-to-deposit ratio was 0.86%.
The first quarter results are unaudited and are computed under international accounting standards.
Founded in 1996, Libra Bank runs 29 offices in Romania. The bank plans to open at least three new offices by the end of 2013. (EUR1=RON4.3465)