It said non-recurring elements and the impact caused by the COVID-19 pandemic amounted to RON3.4 million and the bank would have otherwise reported a net profit RON1 million.
Net banking revenue dropped 5%, to RON36 million in the first quarter, due the increase in the cost of financing from commercial sources in line with the evolution of interest rates on the market, as well as from the trading area where volumes decreased in March due to the pandemic.
The bank posted an operating profit of RON3.5 million, RON6.8 million higher compared with the first quarter of 2019, as operating costs dropped 21%.
The bank granted new loans totaling RON181 million in the first quarter, which led to an increase in the portfolio of performing loans by 2% compared with end-2019.
Its net loans to total asset ratio grew to 53% from 47% in the first quarter of 2019 and from 50% in December 2019.
Patria Bank said approximately 11% of its customers requested loan repayment deferrals and 92% of these requests have been approved.
It said total assets decreased 7% compared with the first quarter of 2019, to RON3 billion.
Its gross loan portfolio grew by RON52 million, up +3% compared with December 2019. Compared with the first quarter of 2019, gross loans increased by RON34 million, up 2%.
It said its performing portfolio grew by RON83 million in the first quarter, or 6% on the year, while its non-performing loan portfolio decreased by RON49 million, or 18% on the year, due to recoveries achieved on non-performing exposures.