Romania's Libra Internet Bank H1 profit flattish, net assets double

The bank's net profit amounted to 23.96 million lei ($6.15 million/5.22 million euro) in the first six months of the year, compared to 25 million lei in the year-ago period, it said in a press release.

Deposits reached 3.72 billion lei, up 46% on the year, while loans amounted to 2.49 billion lei, up 44% on the year. The bank's bad loans ratio was 2.4% at end-June, well below the average of 8.32% for the Romanian banking system.

The lender also said its market share increased to 1.04% at the end of June from 0.86% at end-2016.

In 2016, Libra Internet Bank posted a 32.5 million lei net profit, up 35% from the previous year.

Libra Internet Bank has a network of 50 branches in Romania, serving mostly customers working in liberal Professions, SMEs, corporate and agribusiness.

(1 euro=4.4549 Romanian lei)