EnglishBanca Romaneasca, a subsidiary of the National Bank of Greece, posted a 4% year-on-year increase in operating profit at the end of Q1 to 3.2 million EUR amid a 72% increase in the volume of issued loans. In turn, the National Bank of Greece posted a Q1 net profit of 381 million EUR, up by 52% year-on-year amid significant growth in Greece, Turkey and SE Europe.
Banca Romaneasca also posted a 22% increase in revenue from the core business to a total of 14.1 million EUR, of which 10.6 million EUR in interests and 3.5 million EUR in fees. At the end of March, the bank"s assets reached 1.22 billion EUR. On the same date, the bank had a loan portfolio of 831 million EUR (+72%) and deposits totaling 406 million EUR (+142%). Bad loans accounted for 0.5% of the total, compared to 0.4% at the end of March 2006.
Between March 2006 and March 2007, the bank opened 33 new units (65%), whereas the number of employees advanced 31% to 1,181. At the end of last year, Banca Romaneasca reported assets of 3.56 billion RON (1.05 billion EUR) and a 2.07% share of the Romanian banking market, placing 12th. In addition to Banca Romaeasca, the National Bank of Greece also controls NBG Asigurari SA (76.73%), Garanta Asigurari SA (71.57%), Eurial Leasing SRL (70%) and ETEBA Romania SA (100%).
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