Leumi Bank Romania 9-month net profit at RON 12.8 mln on higher lending

The net profit of Leumi Bank Romania, a subsidiary of Israeli Leumi Group, reached RON 12.8 million (EUR 2.8 million) in the first nine months, due to gains in loans and deposits.

Leumi’s loan book has expanded by 8.4 percent to RON 911 million (EUR 200 million). Lending to the corporate sector added 7.7 percent to RON 727 million (EUR 160 million). It moved up by 7.7 percent to RON 263 million (EUR 58 million) in the retail segment.

The customer deposits grew slightly by 0.5 percent to RON 639 million (EUR 141 million).

“The positive result in the first nine months was due to the very prudent strategy adopted by Bank Leumi in approaching small and medium enterprises, our targeted clients,” said Manfred Rauchwerger, senior executive vice-president at Bank Leumi Romania. He added the lender slow downed the formation of non-performing loans, while operational expenses were tightly controlled.

Bank Leumi had 23 units in Romania, employing 307 people.

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The Group’s net profit gained 6.5 percent to USD 304 million on nine months. Its assets slightly moved up to USD 94.5 billion.

Ovidiu Posirca