Local lender Bancpost recorded a net profit of EUR 14.8 million in the first nine months of the year. The net income before provisioning rose by 28% year-on-year.

The bank significantly improved its profitability, after recording losses of EUR 23 million at the end of September last year.

The operating expenses decreased by 17% in the first nine months of the year, as the bank managed to optimize its network. The loans to deposits ratio remained unchanged at 87%, whereas the non-performing loans reached 16.5% of the total portfolio.

The bank has optimized its financing sources by attracting resources from international financial institutions such as the European Bank for Reconstruction and Development (EBRD) or the European Investment Bank (EIB).

editor@romania-insider.com