71% asset increase for Volksbank

Volksbank Romania’s total assets three quarters through 2004 amount to 214 million euros, up 71% from the same time last year. The bank management estimates the assets will reach 249 million euros by the end of the year, and the profit for this period will be of 2 million euros. This should account for an about 1.5% market share. The total credits granted by the bank totalled 170bn euros at the end of September, while deposits attracted stood at 71 million euros. Nine-month profit reached 1.6 million euros. Under the circumstances, ROE stands at 17%, while ROA is of 0.9%. Volksbank had 42,386 clients in September and plans to focus on retail development, unlike its present strategy, which puts equal emphasis on funding for retail and corporate segments. ZF