OTP Bank Romania announces net profit of 236 million RON for the first nine months

OTP Bank Romania recorded a consolidated net profit of 236 million RON in the first nine months of 2023, compared to a loss of 15 million RON in the same period of last year.

Operating profit in the first nine months of 2023 reached 203 million RON, up 39 percent over the same interval of last year, following a 15 percent increase in total income, while net interest income grew by 6 percent y-o-y, and net fees increased by 15 percent, largely because of the deposit and transaction fee incomes.

“We are once again celebrating a landmark achievement with record profits, for the second consecutive quarter, as the bank’s strategic focus on business consolidation and customer satisfaction has brought us a great financial performance. The new developments and optimization in the operational and product areas have supported our operating profit indicators, and this is actually the result of previous years investments projects, of the consolidation process that begun this year and a dedicated team’s efforts. We have managed to achieve these results despite the slight contraction in performing loans, reflecting our prudent approach to credit and focus on maintaining a healthy portfolio. At the same time, our deposit base has seen a substantial increase, particularly in the retail sector, which in this macroeconomic context underscores the confidence our clients place in us as a secure and reliable financial partner. So, our path forward, as we navigate the complexities of the current economic environment, is towards securing the solid financial position of the bank and continue delivering great experiences and service for our customers”, said Gyula Fatér, CEO OTP Bank Romania.

The net interest income grew by 6 percent, to a total of 513 million RON. The nine-month net interest income was shaped by the higher average interest level of corporate and retail loans, while their volume remained stable.

According to local reporting standards, the bank´s assets reached the level of 20 billion RON, decreasing by 3 percent compared to September 2022.