4.2m-euro income for SanPaolo IMI

SanPaolo IMI Bank Romania, the local branch of the Italian group SanPaolo IMI, saw profits of 4.2-million euros last year, 82% higher than in 2004. The bank”s total assets overshot the 200-million euro mark in December, registering a 74% growth as compared to the end of 2004. The increase in assets was driven by the increase in the volume of loans, which went up 83% to 109 million euros. SanPaolo thus completes its second year of growth, after the bank went through a reorganisation process in 2003. In addition to reorganising its operations, the bank also tapped into the market for individual clients. It currently includes real estate and consumer credit in its portfolio, also available for workers hired under contract in Italy, as well as banking cards. ZF