TIRANA (Albania), August 7 (SeeNews) – Hungarian financial services group OTP said on Friday the after-tax profit of its Albanian unit Banka OTP totalled 1.14 billion Hungarian forints ($3.9 million/3.3 million euro) in the first half of the year, 5% less compared with the same period of last year.
Banka OTP Albania's operating profit more than doubled in the review period on an annual comparison basis, reaching 2.9 billion forints, OTP said in an interim financial report.
Net interest income increased by 111% on the year to 4.8 billion forints, while net fee and commission income added 94% to 593 million forints in the January-June period of 2020. First-half operating expenses rose by 118% to 2.7 billion forints.
The Albanian unit's total assets rose to 272.1 billion forints at the end of June, up 9% compared to end-2019.
Banka OTP Albania's gross loans to customers increased by 11% year-on-year in the first half, reaching 164.7 billion forints, while deposits rose by an annual 10% to 197.4 billion forints, OTP said.
Banka OTP Albania has been owned by OTP since April 2019. Prior to that, it was a unit of French banking group Societe Generale.
In Southeast Europe, OTP group is also present in Croatia, Bulgaria, Romania, Serbia and Montenegro.
(1 euro = 345.937 forints)
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