Optima Bank reported a net profit of €108.2 million for the nine months of 2024, compared to €72.1 million for the nine months of 2023, an increase of 50%. As the bank notes, the 9-month net profit already exceeds the total net profit for FY 2023 (EUR 103 million). 

The return on tangible equity in the first nine months of 2024 was 26.8. 

Net interest income amounted to €141.1 million, up 43% year-on-year, with a net interest margin of 4.28% thanks to resilient margins. Net fee and commission income increased by 30% year-on-year to €29.3 million with an increased contribution from loan and asset management fees.

Operating expenses amounted to €41.2 million, up 7% year-on-year, mainly due to an increase in the number of employees. The cost to core income ratio was 25% and was in line with the bank's target of <30% for FY2024.

Credit expansion continued with loan disbursements in the first nine months of 2024 of €1.9bn, 29.7% higher year-on-year. Loan balances increased by €1.1bn in the first nine months of 2024 to €3.3bn, up 48% year-on-year.

The quality of the loan portfolio is maintained at very good levels with the NPL ratio at 0.92%.

Deposits increased by €1.0bn (+32% y-o-y) to €4.1bn. The bank has strong liquidity with a loan-to-deposit ratio of 79%, a liquidity coverage ratio (LCR) of 263% and a net stable funding ratio (NSFR) of 129%.