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PATRIA BANK S.A. - PBK

H1 2021 Report

Release Date: 8/17/2021 6:00:14 PM

IRIS Code: 253E8

 

The financial results of H1 2021 show a net profit of RON 6.05 Million, increasing by 27% compared to the same period of 2020

                                                                                                                                                                                                                                                                                                                                                                                                                             August 17, 2021

 

Financial results as of June 30, 2021 for the first semester of the year show a net profit of RON 6.05 Million, increasing by 27% compared to the same period of 2020, coming from the favorable evolution of both operating revenues and the contraction of operating costs that led to an Operating Result with 85% higher (RON +10.73 Million), in H1 2021 compared to H1 2020.

The consolidation of the profitability level, with positive results from the first semester, represents the cumulation of the strategic decisions that the Bank has implemented, materializing in the following financial benchmarks reached in H1 2021:

·         New loans granted more than RON 492.5 Million during 2021, which led to an increase in the portfolio of performing loans by 10%, respectively RON +174 Million compared to December 2020

·         Improving the Bank's Balance Sheet structure by increasing the share of net loans in total assets to 55% from 52% in December 2020

·         Development of operating revenues by 29% H1 2021 compared to H1 2020 on all components of its structure, this evolution including a negative impact on interest income of approximately RON 7 Million from the decrease of the ROBOR interest index

·         Optimization and reduction of operational expenses with RON 1.4 Million, representing 2% in the first 6 month of 2021 compared to the similar period of 2020

·         Maintaining a solid capital base highlighted by the Own Funds Rate of around 20% both individually and consolidated at the level of the Patria Bank Group.

 

The integral version of the Report on the H1 2021 financial results of Patria Bank S.A together with the Interim Consolidated and Separate Financial Statements for the period ended 30.06.2021, prepared in accordance with IFRS as adopted by EU, shall be accessible on the bank's website at https://en.patriabank.ro/about-patria-bank/investors/reports-and-results/financial-reports or on the website of the Bucharest Stock Exchange at the link below starting with 17.08.2021.

Financial statements as at 30.06.2021 are not audited or reviewed.

For further details: pr@patriabank.ro , +40 732 800 326.

 

 

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About Patria Bank Group

 

Patria Bank is a Romanian bank, listed on the Bucharest Stock Exchange, with a national presence, being dedicated to increasing the degree of banking in Romania and supporting local entrepreneurs. The Patria Bank Group is majority owned by the Emerging Europe Accession Fund (EEAF), a private equity fund whose main investors are EBRD (European Bank for Reconstruction and Development), EIF (European Investment Fund, part of the European Bank Group for Investments), DEG (Development Bank, part of the banking group KFW), BSTDB (Development Bank of the Black Sea Region). Patria Bank Group includes Patria Bank, Patria Credit IFN and SAI Patria Asset Management.



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