OTP Bank Romania doubles net profit in 2015
Local lender OTP Bank Romania almost doubled its net profit in 2015 to EUR 4.8 million. In 2014, the bank had a net result of EUR 2.47 million.
The credit portfolio grew by 23% whereas the interest income rose by 18%.
The operational costs went up by 59% to EUR 70 million, and the operating profit dropped from EUR 31.3 million to EUR 19.4 million. This was due to the rising costs of integrating Millennium Bank, which the lender acquired in 2014.
In the last quarter of the year, OTP had a loss of almost EUR 3 million.
The bank’s revenues increased by 18% to EUR 88 million.
editor@romania-insider.com
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