OTP Bank Romania's Q1 consolidated net profit was RON two million, down 88 percent year-over-year, the financial institution said in a release on Friday.The result was influenced by the lower revenues compared to the previous quarter, the higher operating expenses, and the new tax introduced in the banking sector in 2024, which requires the bank to pay an additional 2 percent of turnover. Consequently, the payable tax is now in excess of RON 13 million compared to RON 5 million in the previous quarter.The operating profit posted for Q1 2024 was RON 45 million, by 34 percent lower compared to Q4 2023.Net interest income was 4 percent down from the previous quarter, at RON 177 million, net income from fees and commissions increased 41 percent, while other incomes were 30 percent down.The total risk cost decreased by 19 percent compared to the previous quarter, reaching RON -29 million.The volume of performing loans dipped 3 percent compared to the previous quarter, the volume of deposits decreased 2 percent from the last quarter of 2023, and the volume of corporate deposits went down 10 percent.The bank's assets expressed in accordance with the local reporting standards reached RON 19.7 billion, in line with the figure recorded in 2023.OTP Bank Romania is a subsidiary of OTP Group. After four years of steady and considerable growth in all business lines, OTP Bank Romania is moving towards a process of consolidating its portfolio and operations. In Romania, the members of OTP Group are: OTP Bank Romania, OTP Consulting, OTP Leasing, OTP Asset Management, OTP Factoring, OTP Advisors and OTP Bank Romania Foundation.OTP Group is headquartered in Hungary and has been listed on the Budapest Stock Exchange since 1995.
Romania’s Treasury on May 12 placed RON 540 million (EUR 100 million) of Government bonds on the domestic market at an average yield of 8.45% by reopening an issue that matures at the end of July 2026, according to the National Bank (BNR). The yield is 1.5 percentage points up from roughly two weeks earlier, […]
With five days remaining until the second round of Romania's presidential elections on Sunday, May 18, the race between far-right leader George Simion and independent candidate Nicușor Dan is extremely close, according to an AtlasIntel opinion poll conducted for
At most schools, the bell signals the end of the learning day. At the British School of Bucharest (BSB), it’s just the beginning of something entirely different. On any given afternoon, the campus comes alive with a quiet sort of magic - students experimenting with food and flavor in a professional-grade kitchen, building miniature robots […]
Heberger Romania proudly presents the Combo Apartment at Pipera Eins, an exclusive boutique residential project designed for modern, eco-conscious living. Nestled in one of Bucharest’s most prestigious neighborhoods, Pipera Eins offers German-quality craftsmanship, sustainable design, and state-of-the-art amenities, setting a new standard in urban living. The Combo Apartment – A Unique Residential Offering The Combo […]
George Simion, the presidential candidate of the far-right party AUR, is facing criticism after publishing a video in which he is aggressive with journalists and accuses them of political bias. The footage, which the journalists say was filmed without their knowledge, was released on Facebook just as Simion skipped a televised debate hosted by Digi24 […]
Garanti BBVA Romania has signed a financing agreement with the European Bank for Reconstruction and Development (EBRD) worth of EUR 50 mln, aimed at strengthening the bank’s capital base and expanding its lending capacity in the Romanian economy, with a focus on supporting investments in the green economy. Garanti BBVA Romania will allocate an amount […]
