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June 28, 2022

OTP Bank, higher loss in Romania in H1

Hungarian lender OTP Bank posted a loss of some EUR 7.6 M (HUF 2.26 bln) in Romania in the first half of the year, almost nine times higher compared to the same period in 2012, money.ro informs. The negative result was mainly triggered by deteriorating operating result and higher risk costs, reads the bank’s report. OTP Bank Romania’s operating result declined by 17 per cent in the first six months of the year over the same period in 2012, while total risk costs went up 36 per cent year-on-year. The operating expenses also went down 3 per cent in H1 2013 over the first six months of 2012, mainly due to lower rental fees, training costs and savings in personnel expenses, according to the bank. The bank’s total income amounted to around EUR 32.6 M (HUF 9.6 bln) in the first half of the year, an 8 per cent year-on-year decrease, while the net interest revenues went down 10 per cent. The half-year net fee and commission income went up 11 percent in first six months of 2013 on the same period in 2012, mainly due to higher deposit and transaction-related fee revenues.

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