First Bank reported 57 million RON net profit in 2021

First Bank reported for 2021 a net profit of 57.1 million RON, a significant increase compared to the same period the previous year.

The bank’s net operating revenues increased by 7 percent compared to 2020, reaching the value of 354 million RON. At the end of 2021, the total assets of the bank exceeded 6.9 billion RON, while the equity reached almost 800 million RON and the sources attracted from the customer amount to 5.2 billion RON. The total capital adequacy ratio arrived at 23,14 percent and the liquidity ratio was well over 200 percent.

The value of loans granted showed a significant evolution in all client segments, First Bank reached a loan portfolio of 4.1 billion RON, up 4 percent from the same period last year. A more sustained pace is particularly noticeable in the SME lending area, where there has been a 16 percent increase over 2020, positively influenced by First Bank’s adherence to government support programs. First Bank also joined the IMM Invest program in the second year of its development, with funds of 329.29 million RON allocated for 2021, increasing by 46.39 percent compared to the previous year.

“The financial results of 2021 reflect an important financial performance, and through the measures we have adopted, we have reached a strong level of capitalization and liquidity. We continue to stay close to our customers, offering personalized and efficient financial solutions, with a high degree of digitization, but always maintaining the human touch”said Henk Paardekooper, CEO of First Bank.

Over the last three years, First Bank has carried out extensive transformation processes, supported by investments in technology, products, processes and people of close to 100 million RON.