1m-euro profit for Eurom Bank

Eurom Bank, the former Dacia Felix Bank, logged profit worth 40.6 billion ROL (1m euros) in the first half of 2004, almost four times higher than profit posted in the first quarter of the year (11 billion ROL). Last year, Eurom Bank incurred losses from its banking operations. The bank’s assets have reached 3,337 billion ROL (82.2 million dollars) up 31% in nominal terms from the beginning of the year. The results were calculated in line with the Romanian Accounting Standards (RAS). “The first half’s increase is in fact a continuation of last year’s growth, when we managed to double our activity,” says the bank’s manager Dorel Cotet. According to the bank’s official, Eurom currently holds 0.43% of the Romanian banking system and aims to grab 0.6% of the market by the end of the year. ZF