March 2 (SeeNews) - Romania's Patria Bank [BSE:PBK] said that its net profit soared 114% year-on-year to 20.2 million lei ($4.3 million/4.1 million euro) in 2022.
Net banking income increased by 18.3% year-on-year to 194.3 million lei, Patria Bank said in a statement filed with the Bucharest Stock Exchange on Tuesday.
Net income from fees and commissions rose by 17% to 31.7 million lei.
The bank's loan portfolio in Romania increased by 9% on the year to 2.35 billion lei in 2022. The ratio of gross loans to deposits reached 68% as at the end of 2022, compared to 65% at end-2021.
Patria Bank's non-performing loan (NPL) ratio dropped to 7.36% at the end of last year, from 9.38% at end-2021. The coverage of NPLs with provisions decreased to 53%, from 54%.
The bank's total assets rose 9% to 4.15 billion lei last year, from 3.82 billion lei at the end of 2021.
Patria Bank Romania is owned by Patria Bank Group, majority owned by the private equity fund Emerging Europe Accession Fund (EEAF). Main investors in EEAF are the European Bank for Reconstruction and Development, the European Investment Fund and other major European institutions.
The bank's shares traded 2.93% lower at 0.0862 lei as at 1342 CET on Thursday on the Bucharest Stock Exchange.
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