Romanian lender ProCredit Bank ups assets by 8% y/y in H1, to EUR 308m

ProCredit Bank Romania, part of the ProCredit group, added 8 percent to its assets in the first six months of the year, to 308 million euros, according to the bank.

The lender posted a net profit of 250,000 euros in the first semester and of 950,000 euros in 2007. The bank returned to the black in 2005.

Its credit portfolio increased 21 percent to 235 million euros, following significant advance of agriculture loans, which reached 40 million euros in June.

ProCredit Bank assigned more than 4,000 loans to agriculture producers and companies in the first half and counted 44,000 credits in process at the end of June.

The bank's clients portfolio rose 40 percent from June 2007 to June 2008, to more than 100,000 active clients on the banking services. Deposits from clients reached 174 million euros in the first half.

ProCredit Bank Romania was set up in 2002 as a partnership between the European Bank for Reconstruction and Development (EBRD), IFC (member of the World Bank Group), Commerzbank, KfW, ProCredit Holding (German investment company) and IPC.

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