It said net banking income dropped 13% in the first nine months, to RON113 million, under the impact of the COVID-19 pandemic, the evolution of the ROBOR interest index, the decrease of the volume of customer trading during the state of emergency.
The bank said the reported net profit incorporates non-recurring elements and the impact caused by the COVID-19 pandemic amounting to minus RON7.8 million. Without these extraordinary elements, the cumulative net result at the end of September would have been a net profit of RON13.8 million.
The bank had total assets of RON3.26 billion at the end of September, up 2% from end-2019, while its loan portfolio grew 10% on the year and 12% since end-2019, to RON1.78 billion.
Operational expenses were reduced by 13% on the year in the first nine months in view of protecting profitability amid the health crisis.
In the third quarter alone, the bank reported a net profit of RON1.27 million, 83% lower compared with the second quarter, and net income of RON36.2 million, down 11% from the previous quarter.