Banc Post: 7.5m euros net profit in eight months

Banc Post, the bank controlled by Greek group Eurobank, posted net profit worth 258.5 billion ROL (some 7.5 million euros) in the first eight months this year.

Gross profit amounted to 304.8 billion ROL, while total revenues from the core activity climbed to 2,784 billion ROL in eight months. According to information disclosed by the bank, Banc Post’s assets were worth 21,746.2 billion ROL by the end of August, while equity accounted for 2,458 billion ROL. As figures show, the bank focused on lending, which increased 150% as compared with the same period last year. The value of credits amounted to 8,634.4 billion ROL at the end of August. The loans granted to the population more than doubled in the same interval, while corporate lending accounted for 60% of the credit portfolio and a quarter of the bank’s total assets. More than 50% of the loans granted to companies went to the small and medium-sized enterprises.

The bank manages over 4.6 million accounts, out of which 90% belong to natural persons. Banc Post has more than 2.4 million clients. The bank holds a territorial network comprising 158 branches, whereas stock capital accounts for 664.8 billion ROL.

Greek bank Eurobank bought the main stake in the Romanian bank this spring, and is now trying to create a new market strategy and figure out growth methods. At any rate, official statements claim the new market strategy aims at increased exposure, as far as the corporate segment is concerned, mainly eyeing the small and medium-sized companies.

One of the main factors fuelling the bank’s growth will be the increased number of loans and, somewhere in the near future, leasing.

EFG Eurobank Ergasias reached an agreement with Banco Portugues de Investimento (BPI) early last month to take over the 17% stake in Banc Post for 23 million euros.