Italy's Intesa breaks even in 2009

Intesa Sanpaolo Bank, a small player domestically owned by
Italy’s biggest banking group, broke even last year, after net
income worth 4m euros in 2008, according to the data published by
the parent company. Intesa’s Bucharest representatives reported
“net positive income” in line with IFRS, without specifying any
sum, though. According to banking sources, Intesa Sanpaolo last
year was among the 21 banks to record net losses in line with
Romanian accounting standards. In line with Romanian accounting
standards the bank kept its market share in terms of assets at
0.9%, flat from 2008, filling the 21st position in the market’s
ranking. In line with IFRS, the bank saw its assets rise by 9% last
year, to 3bn RON (766m euros), while the volume of granted loans
reached 2.33bn RON (550m euros) in December, 27% above the level of
late 2008. Intesa’s Romanian assets account for 0.1% in total
assets of the parent company.