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PATRIA BANK S.A. - PBK

Q1 2022 Report

Release Date: 5/16/2022 6:29:57 PM

IRIS Code: 6DF9F

 

Patria Bank financial results as of March 31, 2022 (3 months) show a net profit of RON 882 Thousand,

coming mainly from the favorable evolution of the operating revenues related to interest and commission income

May 16, 2022

 

Financial results as of March 31, 2022 for the first quarter of the year show a net profit of RON 882 Thousand, coming mainly from the favorable evolution of the operating revenues related to interest and commission income (main activity of the Bank), but also from a contraction of the depreciation adjustments of the financial assets.

The consolidation of the profitability level, with positive results for the first three months of 2022 within an unfavorable macroeconomic context, represents the confirmation of the viability of the business model materialized in the following financial benchmarks reached on March 31, 2022:

·         New loans granted amounting to RON 193 Million, which led to an increase in the portfolio of performing loans by 4%, respectively RON +72 Million compared to December 2021 and by 16%, RON + 275 Million compared to March 2021.

·         Improving the Bank's Balance Sheet structure by increasing the share of net loans in total assets up to 55% from 53% in December 2021, as well as the increase of the loan to customer deposits ratio from 65% at the end of 2021 up to 70% in March 2022

·         Increase of net interest income by 17% in March 2022 compared to March 2021, in line with the evolution of the loan portfolio and the increase of commercial efficiency through higher than the banking system yields

·         Continued reduction of the NPL rate, by 2.91% compared to March 2021 and maintaining the coverage rate of non-performing loans with depreciation adjustments to over 58%

·         Maintaining a solid capital base highlighted by the Own Funds Rate of around 18% both individual as well as consolidated at the level of the Patria Bank Group.

The integral version of the Report on the Q1 2022 financial results of Patria Bank S.A together with the separate and consolidated financial statements for the period ended 31.03.2022, 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 16.05.2022.

Financial statements as at 31.03.2022 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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