Libra Internet Bank increases profit fivefold in first half

Libra Internet Bank, one of the medium-sized Romanian lenders, posted a net profit of RON 123 mln (EUR 25.1 mln) in the first half of this year, up more than five times compares with the same period of 2020.

The bank recorded higher operating profit as it managed to increase operating revenues and reduce operating expenses.The bottom line was also boosted by the reversal of risk provisions related to its loan portfolio.

Libra was among the most active lenders on the local market in the first half of this year. Its loan portfolio increased by 14% compared to the end of 2020 to RON 5.3 bln (EUR 1.08 bln), while its deposits went up by almost 11% to RON 7.1 bln.

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