Libra Internet Bank announced a record-breaking net profit of 317.2 million lei (approximately 64 million euros) in 2023, marking a roughly 33% increase from the previous year. The bank’s assets reached 11.1 billion lei, showing a year-on-year growth of 14.4%, while its gross loan portfolio climbed to 6.8 billion lei, an 11% rise from 2022.
These impressive financial results, pending audit, reflect the bank’s continued efforts toward operational efficiency and maintaining a low non-performing loan (NPL) ratio, which stands at 2.1%, below the market average.
Operational Efficiency and Low NPL Ratio
Libra Internet Bank’s operational efficiency improved in 2023, with the Cost to Income ratio dropping below 40% for the first time. The bank’s persistent low NPL ratio further demonstrates its sound financial health and risk management practices.
Cristina Mahika-Voiconi, CEO of Libra Internet Bank, emphasized the bank’s marathon-like approach to business growth and performance improvement. She highlighted the bank’s commitment to innovation in banking and providing attractive, accessible products and services to ensure high customer satisfaction. Libra Internet Bank’s strategy to exceed its performance year after year is fueled by a dedication to banking innovation and customer satisfaction.
The development of Libra Internet Bank’s operations is a sustained marathon for our team, and the year-on-year performance improvement represents not just satisfaction for us but also motivation to surpass ourselves. We remain committed to our strategy of innovating in banking, offering attractive, easily accessible products and services, with the goal of maintaining the highest degree of satisfaction for Libra’s clients.
Cristina Mahika-Voiconi, CEO
