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OTP Bank Romania reports profit of 58 million RON for 2021 thediplomat.ro - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thediplomat.ro Daily Mail and Mail on Sunday newspapers.
OTP Bank Romania's profit reached 27 million RON, up by 50 percent in first semester – The Diplomat Bucharest thediplomat.ro - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thediplomat.ro Daily Mail and Mail on Sunday newspapers.
OTP Bank Romania has registered an after tax profit of RON 7 million during the first quarter of 2021, marking an increase compared to the first quarter of last year, when a loss of 11 million RON was recorded, as a result of supplementing by 48 million RON the risk costs in the context of COVID-19. “We are now in full deployment of our organic growth program, implementing new projects and developing new products and services, while in the first three months we have marked steady double digit growth on our loans and deposits portfolios, as in our customer numbers. These are encouraging results, which show the effect of our Q1 investment program, the large capital increase at the beginning of the year, and other important development, such of the expansion of our branch network with a new centre in Timișoara, or the launch of new products, as the fully online personal loan”, said ....
OTP Bank Romania has registered an after tax profit of 22 million RON during 2020 , lower than the result of the previous year, due to higher expected risk costs generated by the Covid-19 pandemic. During last year, loan risk related provisions increased by 80 percent, amid uncertainties caused by the pandemic.. Most of the provisions to cover these risks have been in place since the first half of the year. “The pandemic has struck 2020 as an unexpected tempest and tangled everyone’s plans. We evaluated the risks and set in place the premises for OTP Bank to properly function and perform, constituting additional provisions in the amount of 70 million lei to cover the potential risks caused by the pandemic. We stayed true to our organic growth strategy, Apollo, with a market share target of 5 percent by 2024. This has brought a significant increase in our operation and a 13 percent growth of the loan portfolio, while our total loan market share has reached 3,74 per ....