The increase in profit was because of an increase in customers’ transactions both on the retail and on the corporate segment along with the lender keeping a very good risk profile, the bank said.
Operating income stood at RON692 million on March 31, 2022, 12% more than in the year-ago period. Interest income rose 16% driven by higher loan volumes, and by an upward trend for interest rates. Net fee income went up 12% in the first quarter.
Operating expenses increased, too, by 8%, especially the spending on salaries, IT and to a lower extent utilities and fuel.
The year 2022 came with new geopolitical and economic challenges so provisions went up from RON8 million in the first quarter of 2021 to RON20 million in the first quarter of 2022.
Deposits grew by 13% compared with the year-ago period.
(English version by Loredana Fratila-Cristescu)