Intesa Sanpaolo Bank Romania raises H1 gross profit 27% y/y to EUR 5m

Intesa Sanpaolo Bank Romania, the unit of Italy's second-biggest bank Intesa Sanpaolo SpA, reported an annual 27 percent increase of its gross profit in the first semester this year to 17.9 million lei, according to data from the mother bank.

The bank did not announced first half net profit.

The lender's operating profit in the first six months grew 56.7 percent to 21.3 million lei year-on-year and operating incomes advanced 40.1 percent to 60.5 million lei.

Operating spending stood at 39.2 million lei, a 32.4 annual advance.

The lender opened 18 new units in the first half of 2008 to reach the current number of 68 subsidiaries and agencies countrywide. The newest units include those in southern town of Targoviste, Vaslui in the east and western town of Salonta.

The lender's Romanian branch registered a net profit of 3.33 million lei in the first quarter of 2008, 1.75 times higher than the net profit in the same period last year.

The bank's total assets reached 2 billion lei at the end of March 2008, 90 percent up as compared to March 2007.

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