BUCHAREST (Romania), September 2 (SeeNews) – Patria Bank of Romania [BSE:PBK] said its net profit rose 67% annually in the first half of 2022, reaching 10 million lei ($2.06 million/€2.06 million).
The increase in net income is mainly due to a favorable evolution of operating income and income from interest and commissions as well as a good quality of the loan portfolio reflected in the level of adjustments for impairment of financial assets, a said Patria Bank in a filed statement. with the Bucharest Stock Exchange on Wednesday.
Net banking income increased by 8% year-on-year to reach Lei 93.1 million in the first six months of 2022, while net income from fees and commissions increased by 8% year-on-year from January to June, reaching 14.3 million lei.
The bank’s loan portfolio in Romania grew 16% year-on-year to 2.24 billion lei in the first six months of 2022, while customer deposits increased 10% to 3, 17 billion lei. The ratio of loans to deposits reached 75% at the end of June 2022, compared to 65% at the end of 2021.
Patria Bank’s non-performing loan (NPL) ratio fell to 8.24% at the end of June, from 9.38% at the end of 2021. Coverage of bad debts with provisions increased to 55% at the end of June, from 54% at the end of 2021. end of 2021.
The bank’s total assets increased to 3.89 billion lei at the end of June, compared to 3.82 billion lei at the end of 2021.
Patria Bank Romania belongs to the Patria Bank group, majority owned by Emerging Europe Accession Fund (EEAF), a private equity fund. The main investors in the EEAF are the European Bank for Reconstruction and Development, the European Investment Fund and other major European institutions.
Shares of Patria Bank were trading at 0.0854 lei at 1044 CET on Friday on the Bucharest Stock Exchange.
(1 euro = 4.8525 lei)
Banca Comerciala Carpatica SA is one of the largest banks in SEE, for more references see Top 100 Banks