Romanian lender Libra Internet Bank, controlled by US investment fund Broadhurst, reached a net profit of RON 46.4 million (over EUR 10 million) in the first half of this year, double compared to the same period of 2017.

The higher profit mainly resulted from a higher loan portfolio and a low non-performing loans (NPL) rate as well as optimized operational expenses.

The bank’s net assets increased by 9% from December 2017 until June 2018, reaching RON 4.96 billion (EUR 1.07 billion). The loan portfolio stood at RON 3.06 billion (EUR 658 million) and the NPL rate was under 1.7%.

editor@romania-insider.com