The profit indicator improved significantly in the fourth quarter, driven by the improvement in operating profitability and the decline in risk costs, the bank said.
Operating profit stood at RON217 million in 2022, 76% higher than in 2021, as a result of the 23% growth of total revenue.
Risk costs were almost four times higher due to the 50% rise in credit risk cost, as well as other related risk costs.
Operating expenses rose by 10%, largely because of the bank’s investments in development.
Net interest income went up 35% to RON672.7 milion. Cost-revenue ratio improved 8.6% to 72.5% compared with 2021 and fell to less than 68% in the last quarter.
The volume of performing loans granted increased by 10% in 2022, driven by growth on most lines of business. Corporate lending increased by 15%, small and medium-sized business lending by 11%, leasing funding by 25%, while retail slowed down to 45%.
(English version by Loredana Fratila-Cristescu)