Hungarian OTP Bank recorded a profit of EUR 543,000 for the first quarter of 2011 in Romania, after the first quarter of last year ended flat, according to the bank. The bank's operating profit was of EUR 5.26 million in the first three months, down 21 percent than the one registered in the first quarter of 2010. Also, the bank's revenues were of EUR 17.31 million, down 4 percent than the ones reported to the same period last year.

OTP Bank's operational costs stood at EUR 12 million in the first quarter, up 6 percent compared to the same period in 2010. However, OTP Bank Romania's assets were of EUR 1.4 billion at the end of March, 2011, a growth of 4 compared to the first quarter of last year, when it reached EUR 1.39 billion.

OTP Bank Romania is a subsidiary of OTP Bank, the largest banking group in Hungary.

Irina Popescu, irina.popescu@romania-insider.com