Operating profit reached RON146 million in the first three quarters of 2022, an increase of 67% on the year-ago period, as a result of an increase in 20% in total revenue.
Net fees and commissions income rose 8% and the net interest income increased by 33% to RON484 million year-on-year. Operating expenses went up 9% in the first nine months, due to the higher personnel spending because of raises and a 3% increase in staff numbers.
Total risk cost amounted to RON151 million in the first three quarters of 2022, fueled by a minus RON110 million credit risk cost, as a result of the growth of the loan portfolio and the worsening economic outlook.
(English version by Loredana Fratila-Cristescu)