Romanian lender Alpha Bank doubles nine-month gross profit to EUR 47.8mPublish date: 26-11-2008
Alpha Bank Romania, the unit of the Greek-based Alpha group, posted 104.6 percent boost in gross profit year-on-year in the first nine months, on massive advance of credits, a report shows.
The bank recorded a gross profit of 47.8 million euros in the first nine months, versus 23.3 million euros in the similar period last year. Credits assigned by the bank hiked 72 percent, from 2.34 to 4.03 billion euros.
Mortgage loans jumped 99 percent year-on-year in the first nine months to 538 million euros and credits offered to companies rose 63 percent, to 2.92 billion euros, the report shows.
Clients' deposits hiked 49 percent from October 2007 to September 2008, from 999 million euros to 1.485 billion euros.
Alpha's operating revenues increased 77.7 percent year-on-year in the first nine months, to 134.2 million euros, while the operating spendings grew 54.3 percent to 75.4 million euros.
Alpha Bank Romania increased its market share on the credit segment to 7.6 percent after the first nine months. The lender cut ribbon for 77 new units in the mentioned period, reaching a 173 unit-network. It plans to spread tentacles to 200 units by year-end.
- 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