If you can see this message, your browser does not support canvas and needs an update. Sorry. :(
Sunday, May 16, 2021 
Market Status: Closed
About us and Governance Investor Relations Contact
Advanced search

Market News


PATRIA BANK S.A. - PBK

2020 Preliminary financial results

Release Date: 2/26/2021 8:33:57 PM

IRIS Code: 8EDDC

 

 

For the second consecutive year Patria Bank reports a profit, 

confirming the positive evolution of previous years

 

 February 26, 2021

 

 

For the second consecutive year Patria Bank reports a profit and succeeds to improve the Capital Adequacy Ratio in 2020 by more than 350 bps, confirming the positive evolution of previous years. The net profit of 2020 is RON 2.8 Million and was  influenced by the pandemic context in which the predictability was very low and the volatility of macroeconomic conditions was high; these factors affected the financial result of 2020 and explain the contraction by RON 2.5 Million of the net result compared to the previous year.

 

Current results represent the cumulation of strategic decisions that the Bank has implemented, materializing in the following financial benchmarks reached in 2020:

 

 

·         New loans granted in the amount of over RON 823 Million during 2020 (at a faster pace than the banking system average) which led to an increase in the portfolio of performing loans by 13%, respectively RON +191 Million compared to December 2019

·         Improving the bank's balance sheet structure by increasing the share of gross loans in total assets to 56% from 53% in December 2019 correlated with the continued development of a strong (retail) deposit base

·         Optimization and reduction of operational expenses by 11%, RON -15.7 Million in 2020 compared to 2019 via process optimization and acceleration of digitalization

 ·           Thus, In 2020 the Bank managed to fully offset the contraction of operating revenues with the results from recalibration of costs, achieving an improved operating result than in 2019 despite the pandemic conditions of 2020.

 

 

The integral version of the Preliminary Report on the 31.12.2020 financial results of Patria Bank S.A, prepared in accordance with IFRS as adopted by EU, shall be accessible on the bank's website at the following link: 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 26.02.2021.

Preliminary financial statements as at 31.12.2020 are not audited.

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

 

 

***

 

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.



 Print

Information provided by IRIS, the news platform of the Bucharest Stock Exchange.

______________________

Bucharest Stock Exchange ("BVB") is not responsible for the content of this News item. Issuers whose financial instruments are traded on markets operated by BVB are required to report in accordance with current legal and regulatory provisions. BVB publishes these Reports as market administrator, appointed by ASF. When, for investors’ information, Reports are published, either signed by different persons, or with conflicting information, legal liability lies fully with the signatories. BVB disclaims any obligation or responsibility towards issuers or third parties, regarding the reality, completeness and accuracy of information provided by them and distributed by BVB. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


©2016 Bucharest Stock Exchange. All rights reserved