Banc Post nets 2.7 million euros

Banc Post posted Q1 gross profit worth 122.8 billion ROL (3.27m euros) and net profit of 101.5bn ROL (2.7m euros). The 2003 S&R budget stipulates gross profit worth 385 billion ROL (about 10 million euros). The bank’s total assets stood at 19,748bn ROL at the end of March. The bank posted net profit worth 220bn ROL in 2002, the equivalent of 6.3m euros. At the end of last year, the loan portfolio totalled 6,300bn ROL, with 52% loans for SMEs, 20% financing for the population and the rest – credits granted to big companies. Bad loans accounted for 1.4% of the portfolio. The main Banc Post shareholder is EFG Eurobank Ergasias, with 36.25% of the capital. The bank is working with Banco Portugues de Investimento, which owns 17% of the shares. ZF