In the first quarter of 2013, OTP Bank Romania posted a loss of HUF731 million (EUR2.46 million), and a loss of HUF2.45 billion (EUR8.22 million) in the fourth quarter.
The bank’s provisions dropped 67% on the year in the first quarter, to HUF1.46 billion (EUR4.74 million). Its operating profit more than doubled to HUF2.5 billion (EUR8.1 million), while operating expenses dropped 3%, to HUF3.21 billion (EUR10.4 million).
OTP Bank Romania’s net revenues from interests increased 9%, to HUF4.75 billion (EUR15.4 million), revenues from taxes and commissions increased 32%, to HUF595 million (EUR1.93 million), and net revenues from other sources stood at HUF365 million (EUR1.2 million).
Total assets remained virtually unchanged from December, at HUF447.67 billion (EUR1.46 billion).
Gross lending rose 3%, from HUF407.4 billion (EUR1.37 billion) at the end of last year to HUF419.6 billion (EUR1.37 billion) at the end of March.
Deposits dropped 6%, from HUF200.5 billion (EUR675 million) in December 2013 to HUF180.48 billion (EUR588 million).
OTP group is present on the Romanian market through OTP Bank Romania, OTP Leasing Romania, OTP Consulting Romania, OTP Asset Management Romania, OTP Real Estate Services Romania, OTP Advisors Romania and OTP Factoring Romania.
(Figures in euros have been calculated at average rates presented in the OTP earnings report of HUF297 to the euro for the first quarter of 2013, HUF308 to the euro for the first quarter of 2014, HUF297/1 euro at the end of 2013 and HUF307/1 euro at the end of March 2014.)