OTP Bank Romania posts 92 million RON profit, up 65 percent in 2019
Petre Barac
Posted On March 6, 2020
OTP Bank Romania announces positive financial results for 2019, reporting an adjusted after-tax profit of 92 million RON, up 65% on the previous year, according to the report published in Budapest,
The bank also reported a 17% increase for operating profit y-o-y, following the increase of 22% in total income and an increase of 25% in operating costs. This is directly linked to the Bank’s growth strategy, as the 18% increase in the headcount have determined higher personnel costs.
Business activity has meaningfully intensified along the bank’s organic growth strategy: mortgage lending surged by 74% y-o-y, while the cash loan volumes rose by 15% y-o-y.
OTP Group has registered in 2019 an adjusted after-tax profit of 6.1 billion RON, with y-o-y growth of 29%.
