Lender Patria Bank, the group’s main asset, reduced its loss 10.9% in the first half, to around RON23.3 million.
New loans granted by the bank in the first half amounted to RON484 million, double compared with the same period last year.
Deposits declined 6% at the end of June compared with end-December 2017, the bank said.
The bank’s loan to deposit ratio stood at 52% in June 2018 from 45% at the end of 2017, well below the banking system’s average of 75.30%.
The group’s operating revenue decreased 11.9% in the first half, to RON59.53 million, while operating expenses decreased 8.9%, to RON84.19 million.
The bank’s operating revenue decreased 7.5%, to RON56.42 million, while operating expenses decreased 8.5%, to RON79.72 million.
The bank’s profitability continues to be under pressure, mainly due to the sub-optimal structure of assets in its balance sheet generated by the excess of liquidity, but this pressure is decreasing as it implements its credit growth strategy, the group said in its earnings report.
The bank had total assets of RON3.44 billion end-June, down 5.5% compared with end-2017.