Banca Romaneasca, 3.2m-euro profit in Q1

Banca Romaneasca, the local branch of the Greek group National Bank of Greece posted a pre-tax profit worth 3.2 million euros in Q1, 36% more than the result for the same period of last year. The bank”s operating revenue increased by 21% against March 2005, reaching 11.6 million euros, according to data published in Athens by the parent bank. At the end of March, Banca Romaneasca held assets worth nearly 709 million euros. Given the level of its assets, Banca Romaneasca holds a 1.9% market share, 0.1% more than at the end of last year. At the beginning of the year, the general manager of the bank, Andreas Maragkoudakis told ZF he was expecting assets would exceed one billion euros in 2006. According to NBG estimates, the bank held a 3% share on the retail credits market, with a volume of 201 million euros, at the end of March. Compared with the same period of 2005, the volume of retail credits was up 16%, accounting for nearly half of the total funding granted by the bank. Loans to companies totalled 239 million euros in March, 7% more than in the first quarter of last year. Thus, the total volume of funding granted by the bank reaches 440 million euros, an 11% increase against the same period last year. ZF