Alpha Bank makes 12.4m-euro net income

Alpha Bank Romania made a net profit of 12.4 million euros in the first six months of the year, an increase of nearly 67% on the same period in 2004. This means that first-half net profits account for nearly three quarters of the budgeted profit for the whole of last year. Alpha Bank”s total assets went up by 30% between the end of last year and the end of June this year to reach a total of 953 million euros. The volume of credits granted by the bank rose 21% to 591 million euros, while deposits attracted increased by 29% to 430 million euros. The reports were made in line with international financial reporting standards. “Alpha Bank Romania will continue its organic development strategy by pursuing a cautious expansion policy based on two main components: the opening of new branches and offices in Bucharest and the rest of the country, and the development of flexible and intelligent products to address the requests of our customers (both individuals and legal entities). These types of products will be launched soon and will be aimed at those who want to take out loans for unspecified personal use,” Sergiu Oprescu, the bank”s executive vice-president, explained. ZF