Alpha Bank profit close to triple year-on-yearPublish date: 28-08-2008
Alpha Bank Romania, ranking sixth on the local banking market, posted gross profit worth €33.2 million in the first half of 2008, 165.6 percent higher year-on-year, due to an 81 percent increase on the lending segment, especially for retail, according to the lender's financial report.
The local branch, owned by Greek Alpha Bank, registered operating profit in the first half of the year from banking operations worth €84.5 million, 85.7 percent higher than in H1 2007.
The rise in its loan portfolio also led to a higher market share, up to 7 percent, compared to a previous 5.5 percent. The loan balance amounted to €3.5 billion, compared to €2.72 billion at the end of 2007. In Q2 alone, the bank granted loans worth €516 million.
The most significant increase was registered on the mortgage segment, of 138 percent, up to €448 million.
However, corporate loans make up most of the bank's portfolio, totaling €2.62 billion after H1, 68 percent higher than in the first six months in 2007.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei