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.
Romanian deep-tech startup .lumen, the developer of what it says are the world’s first AI-powered glasses for the blind, has secured a new investment from EIT Urban Mobility, the European innovation community focused on advancing sustainable and inclusive urban mobility solutions. The value of the new funding round was not disclosed. The investment aligns with […]
The health spending per capita in Romania was the lowest in the EU, with spending less than half the EU average in 2023, the recently released report, State of Health in the EU - Romania Country Health Profile 2025, shows. At the same time, life expectancy in Romania is 5.1 years below the EU average, […]
Romania’s annual inflation rate stood at roughly 9.8% in November 2025, similar to October, according to data published by the National Institute of Statistics (INS). Food prices increased by 7.6% last month, while services rose roughly 11% and non-food goods climbed 10.7%. The consumer price index rose by 0.42% in November compared with October, while […]
Three French soldiers deployed in Romania as part of NATO’s Multinational Battle Group at Cincu intervened to save a truck driver following a serious traffic accident on the A3 Bucharest–Ploiești motorway, the Romanian Ministry of Defense said. The incident occurred earlier this week as the soldiers were traveling toward Ploiești and witnessed the truck crash...
Eight contemporary art galleries will present the works of the artists they represent at the third edition of the Smallest Art Fair in Town, an event dedicated to works on paper. This edition showcases works “investigating the state of wandering, disorientation, and rediscovery in the face of uncertainty.” Under the title In Dark Woods, A […]
Parents everywhere are asking an important question: What skills will truly prepare a child for a world defined by rapid change, global uncertainty, and the rise of artificial intelligence? For decades, schools focused entirely on academics. Today, research from neuroscience, performance psychology, and leading universities shows a different reality: The students who thrive long-term are […]
