Bank Leumi Romania net profit at RON 11.7 mln in H1 on lower provisioning

Newsroom 20/08/2012 | 13:47

The net profit of Bank Leumi Romania, controlled by Bank Leumi le-Israel, stood at RON 11.7 million (EUR 2.6 million) in the first semester of this year, helped by lower provisioning and a stabilization of non-performing loans.

Manfred Rauchwerger, senior executive vice-president at Bank Leumi Romani, said the new strategy implemented by the lender two years ago is starting to bear fruit.

“The situation of non-performing loans has stabilized, while provisioning expenses fell to RON 5.4 million (EUR 1.2 million),” said the vice-president.

Lending moved up by 6.6 percent to RON 775 million (EUR 174 million), sustained by EU funded projects and a credit line designed for SMEs. Meanwhile, deposits stood at RON 622 million (EUR 139 million).

The lender’s assets reached RON 1.1 billion (EUR 246 million) and the solvency rate stood at 21 percent.