16m-euro profit for Bancpost last year

EFG Eurobank Greek financial group, the owner of Bancpost, last year posted net income worth 15.8m euros from Romanian operations, compared with an 8.3m-euro loss in 2009.
The results the group reported in Athens are calculated in line with IFRS.
Assets dropped by 4.6% and reached 5.35bn euros, mainly amid the narrowing loan portfolio.
These are the last figures generated under the executive term of Mihai Bogza, who starting January was left with the Bancpost chairman of the board position, while the executive position was taken over by Peter Weiss, the former head of ABN Amro (which became RBS Romania).
Bancpost, ranking ninth domestically in terms of end-2010 assets, has struggled a lot with the loan portfolio over the past two years, which had grown exponentially amid the economic boom. The crisis and the lack of a sufficient mass of corporate and retail clients dramatically hurt the bank’s figures. EFG had to add over 100m euros to Bancpost’s capital and the bank cleaned up its balance sheet.