Piraeus Bank posts 2.54m euro pre-tax profit

Piraeus Bank Romania, branch of the Greek bank, posted 2.54m euros pre-tax profit for the first eight months. According to the data released by the bank officials, total assets increased over 37% from December 2002, amounting to 144,568m euros. Total credits volume topped 88,440m euros, 34% up from the end of last year, while deposits and liquidity climbed to 122,226m euros, which was 45.5% more than the same period of last year. “Financial results in the first eight months of 2003 are in line with our strategy. Moreover, it is obvious we are going ahead as the number of clients increased by 60% and the transactions by 80% compared with the year-ago period,” Emanuel Odobescu, chairman of the bank, stated. ZF