Piraeus Bank Romania makes EUR 10.3 million gross profit in Q1

Piraeus Bank Romania made a EUR 10.3 million gross profit at the end of Q1 2010, the bank’s representatives have announced. The lender’s managed assets at the end of March grew by 2 percent on March 2009 to over EUR 2 billion. The level of attracted deposits also increased by 7 percent in the same period, with the total volume of deposits attracted by the lender exceeding EUR 1.19 billion in March 2010. The volume of credits offered by the bank dropped by 1 percent on March 2009, reaching EUR 1.6 billion. It also posted an increase of 3 percent on corporate loans.

The number of issued cards reached 102,498 at the end of Q1 2010, a rise of 12 percent on the same period of last year. Piraeus Bank Romania had a branch network of 187 units nationwide at the end of March 2010, 2 percent higher than a year earlier, and 256 ATMs. The lender also posted a ROE of 13.3 percent in Q1 2010 with a cost-income ratio of 38.2 percent. In addition, the weight of unperforming loans was 6.7 percent, below the market average, with the lender having over 300,000 customers. All the results posted by the bank at the end of Q1 are according to RAS accounting standards.

Anda Sebesi

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