Romania's Patria Bank net profit up 14% in 2023

Net banking income inched up by 2% year-on-year to 197.38 million lei in the twelve months of 2023, while the net income from fees and commissions added 7% on the year to 33.7 million lei, Patria Bank said in a preliminary financial statement filed with the Bucharest Stock Exchange on Thursday.

As against the previous year, the bank's loan portfolio in Romania decreased by 6.4% to 2.044 billion lei by the end of 2023, while customer deposits fell 9.4% to 3.124 billion lei. The ratio of loans to deposits reached 69.7% as at the end of December 2023, compared to 68.3% at the end of 2022.

Patria Bank's non-performing loan (NPL) ratio dropped to 6.33% at the end of 2023, from 7.36% twelve months earlier. The coverage of NPLs with provisions rose to 59% at the end of last year, from 53% at end-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 traded 1.82% higher at 0.084 lei on Friday on the Bucharest bourse as of 1327 CET.

(1 euro=4.97023 lei)