Lender Piraeus Bank Romania sees net profit down by 15% y/y in Q1, to lei 39m

Piraeus Bank Romania, the unit of Greece's fourth-biggest bank, reported a 39 million lei net profit in the first three months, 15 percent lower compared to the similar period in the previous, data provided by the bank show.

The bank had a net profit of 46 million lei in the first quarter last year.

Its net revenues added 26 percent year-on-year in the first trimester, from 148 to 187 million lei. Assets rose 21.5 percent from March 2008 to March 2009, from 7.45 billion lei to 9.05 billion lei, according to the bank.

Deposits collected by Piraeus Bank Romania boosted 80 percent from March last year to March 2009 and reached 1.07 billion euros at the end of the first quarter. Credits granted on the local market increased 10 percent in the same period, from 1.64 billion euros to 1.8 billion euros.

Piraeus Bank Romania counted a 180 unit-network at the end of March.

The lender recorded a gross profit of more than 43 million euros last year, up 96 percent versus 2007, after the credit portfolio hiked 56 percent.

NewsIn