Piraeus Bank Romania reports 28 percent decrease in profits on H1

Piraeus Bank Romania registered a gross profit RON of 43.7 million, which is a 28 percent decrease versus the similar period of 2010. The bank’s assets increased by 1 percent to RON 8.9 billion in the first semester of 2011.

The total volume of loans totaled RON 6.7 billion, on the grounds of a 71 percent increase in the corporate loans segment, from RON 396 million in the first semester of 2010 to RON 676 million. Loans for SMEs have also increased by 9 percent from RON 789 million in the first semester of 2010 to RON 864 million. However, customer loans have decreased by 8 percent year-on-year. The volume of deposits has increased by 8 percent to RON 5 billion in the first semester of 2011.

The solvency ratio of the bank was 16.5 percent at the end of June 2011.

Piraeus Bank Romania is part of the Greek Piraeus group, which also owns Piraeus Leasing, Piraeus Insurance Reinsurance Broker Romania and Piraeus Securities Romania.

Ovidiu Posirca

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