Eurom Bank sees higher profits but slower growth

Eurom Bank, one of the four banks listed on the capital market, logged 54.4bn ROL (1.3 million euros) in net profits in the first nine months of the year. In the same period last year, the bank made 8.2bn ROL (223,000 euros) in losses. Bank officials say this years’ profits are the result of the bank’s increased business. Both net interest-related revenues and revenues derived from fees went up, doubling last year’s figure, to 140.6bn ROL (3.4 million euros) and 126.2bn ROL (3 million euros) respectively. The pace of growth in profits, however, dropped somewhat from the first half of the year when the bank made 40.6bn ROL in net income (about one million euros). This was due to the new NBR regulations on consumer lending, credit risk and the increase in minimum compulsory reserves from 25% to 30% for attracted foreign currency resources, explained Alexander Regenbogen, Eurom Bank’s deputy chief executive. ZF