“We anticipate a moderately negative financial impact and the impairment of profit following a reduced commercial activity during lockdown,” the lender said.
Against the backdrop of the Covid-19 pandemic, the net banking income was revised down to RON153.4 million, 12% below the previous projection, and operating expenses were revised down to RON122.6 million, from RON132.9 million previously.
Patria Bank expects the impact on the risk cost to be felt mostly in 2021-2022, but to a lesser extent compared with the average in the sector, following the customer base diversification and the exposure on the Micro and Agriculture segments.
Patria Bank envisages a possible increase in net loans, to RON1.97 billion, in 2020, compared with RON1.85 billion previously projected for 2020, and above the RON1.6 billion level reported in 2019.