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Sep 01, 2023 11:07 EEST
September 1 (SeeNews) - Romania's Patria Bank [BSE:PBK] said its net profit rose by an annual 11% in the first half of 2023, reaching 11.2 million lei ($2.45 million/2.26 million euro).
Net banking income increased by 4% year-on-year to 96.9 million lei in the first six months of 2023, while the net income from fees and commissions rose by 15% on the year to 16.5 million lei, Patria Bank said in a statement filed with the Bucharest Stock Exchange on Thursday.
As against the end of 2022, the bank's loan portfolio in Romania increased by 3.4% to 2.26 billion lei by the end of June, while customer deposits fell 6.7% to 3.21 billion lei. The ratio of loans to deposits reached 75% as at the end of June, compared to 68.3% at the end of 2022.
Patria Bank's non-performing loan (NPL) ratio dropped to 6.57% at the end of June, from 7.36% six months earlier. The coverage of NPLs with provisions rose remained at 57% at the end of June.
The bank's total assets decreased 2% to 4.09 billion lei at the end of June, from 4.15 billion lei at the end of 2022.
Patria Bank Romania is owned by Patria Bank Group, majority owned by Emerging Europe Accession Fund (EEAF), a private equity fund. The main investors in EEAF are the European Bank for Reconstruction and Development, the European Investment Fund and other major European institutions.
Patria Bank's shares closed 1.81% higher at 0.0845 lei on Thursday on the Bucharest Stock Exchange.
(1 euro=4.9439 lei)
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