NBG Group reports EUR 1 mln losses in Romania on H1

Newsroom 31/08/2011 | 16:21

The Greek NBG Group that controls Banca Romaneasca reported losses of EUR 1 million for the first semester of 2011, from a EUR 14 million profit in the first six months of 2010, according to NewsIn newswire, that quotes data from the official financial reports of the group.

The profit before provisions dropped by 47 percent, from EUR 34 million in the first semester of 2010 to EUR 18 million. Banking provisions have increased by 12 percent to EUR 22 million. The net interest income decreased by 17 percent from EUR 54 million in the first semester of 2010 to EUR 45 million, while the commission income also dropped by 55 percent to EUR 7 million. The operating expenses have decreased by EUR 2 million to EUR 36 million in the first semester of 2011, from the similar period of 2010.

The total volume of loans for NBG in Romania stood at EUR 2.25 billion, slightly decreasing by 1 percent from the first semester of 2010, while the corporate loans portfolio decreased by 4 percent to EUR 1.22 billion in the first semester of 2011 versus the similar period of 2010. The segment of retail loans increased by 2 percent to EUR 1.02 billion.

The volume of deposits decreased by 8 percent to EUR 869 in the first six months of 2011. The non-performing loan ratio reached 9.5 percent in the first semester of 2011.

NBG holds an 89.07 percent stake in Banca Romaneasca. EBRD holds a 10.21 stake. The Greek financial group controls the insurer Garanta, NBG Leasing IFN, NBG Securities Romania and NBG Factoring Romania.

Ovidiu Posirca

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