28m-euro net income for Alpha Bank

Alpha Bank Romania saw a net profit worth 28.1 million euros last year, 33% more than in the previous year, according to data published by their parent bank in Greece. The volume of credits granted by Alpha Bank Romania reached 746 million euros last year, a 45% increase compared to the end of 2004. The bulk of these loans, that is 80%, went to corporate clients. Funding for this segment totalled 614 million euros. Consumer credits amount to 71 million euros, whereas real estate loans total 61 million euros. However, the focus on the corporate sector slowed down Alpha”s growth, pushing it below the market average. Thus, the bank was removed from the top ten players in the banking system by other more dynamic institutions. Deposits attracted by the bank totalled 547 million euros at the end of last year, 64% more than in December 2004. Ever since last year, Alpha began a more aggressive approach of the retail market, by expanding its territorial network and by launching new products. ZF