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Hungary's OTP Romanian Unit Turns to Jan-Sept Profit - Table

Nov 13, 2009, 6:36:06 PMArticle by Kristina Belkina
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November 13 (SeeNews) - Hungarian banking group OTP said on Friday its Romanian unit turned to an after-tax profit of 779 million forints ($4.3 million/2.9 million euro) in the first nine months of 2009 from a loss of 196 million forints in the year-ago period.

Hungary's OTP Romanian Unit Turns to Jan-Sept Profit - Table

OTP Bank Romania's gross loan portfolio stood at 295.4 million forints at the end of September, down 7.0% from the end of 2008, the bank said in a statement. Deposits were up 25% from end-2008 at 90.6 million forints.

Bank's assets slightly increased to 369.6 million forints at the end of September from 367.5 million forints at end-2008.

Following are data from OTP Bank Romania's balance sheet and income statement:

Jan-Sept'09 Jan-Sept'08 y/y change
AFTER-TAX PROFIT (mln forints) 779 -196 n.a.
NET INTEREST INCOME (mln forints) 11,650 5,584 109%
Return on assets (pct) 0.3% -0.1% 0.4%
Return on equity (pct) 4.4% -1.1% 5.5%

The Hungarian banking group is also present in Bulgaria, Croatia, Serbia and Montenegro.

(1 euro =269.1659 Hungarian forints)

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