Patria Bank reported a net profit of over 1.22 million euro (5.98 million lei) at nine months, an increase of 2 pct compared to the same period in 2019, according to its financial results on September 30, published on the website of the Bucharest Stock Exchange (BVB) on Monday, as reported by AGERPRES.
"This financial performance occurred in an unanticipated pandemic environment where predictability was very low and the volatility of macroeconomic conditions was high. Compared to the previous year, when the bank reported a net annual profit of 5.3 million lei (12 months), there is an improvement in the 9-month financial results in 2020 - a profit of 5.98 million lei, even though the health crisis has had negative effects on the banking system," the bank's report, submitted to BVB, informs.
At 30 September 2020, the bank's non-performing loans stand at 201 million lei, down 4 pct from 31 December 2019, and the customer debts show a slight increase of 32 million lei, +1 pct, this evolution being generated by the accumulation of several elements in the context of the COVID-19 pandemic.
On 30 September 2020, the bank successfully entered into a private placement for the sale of subordinated, unsecured and non-convertible bonds amounting to 8,187 million euro.
"Patria Bank recorded a positive operational result for the first nine months of 2020, amounting to 18.5 million lei, in a slight decrease of 3 million lei compared to the same period of 2019, the reduction of operating revenues by 17 million lei being almost covered by the cost contraction of 14 million lei and a net profit result of 5.98 million lei compared to the same period in 2019, of 5.8 million lei (+2 pct)", the report reads.
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