In the first half of 2011, OTP Bank Romania reported a net profit of 1.47 billion forints, after posting a loss of 2 billion forints in the similar period of last year, according to the financial statement of the Hungarian group OTP.
The lender"s assets increased to 401.9 billion forints between January and June 2011, down 5% over December 2010.
The gross balance of the loans advanced to 332.5 billion forints, in the first semester of the year, from 329 billion forints at the end of 2010. Out of that total, retail segment loans have increased slightly by 1%, up to 241.86 billion forints, whereas corporate segment loans increased more than 2%, reaching 90.63 billion forints.
As for the balance of non-performing loans, in the first semester of the year, they have reached 39.8 billion forints, up 47% over the similar period of 2010.
In the first semester, provisions fell 54% Y/Y, to 2.6 billion forints.
The deposits opened with OTP Bank Romania saw a decline of 15%, in H1 2011, compared to December 2010. They fell to 112.6 billion forints to 95.84 billion forints.
The total revenues of the Romanian subsidiary of the Hungarian bank increased 4% in the first six months of the year, to 10.62 billion forints, compared to last year"s similar period. Net interest income increased 8% to 8.8 billion forints, and revenues from fees and commissions fell 4%, to 1.2 billion forints.
Operating expenses fell slightly (1%) to 6.56 billion forints.
In the second quarter, OTP Bank Romania obtained a profit of 1.3 billion forints, compared to the loss of two billion forints, of last year"s similar period. This result comes on the back of the reduction in provisions from 3.7 billion forints to 189 million forints.
Total revenues fell 7% in the April-June period, to 4.79 billion forints.
The number of branches fell slightly in th
