Finansbank in the black

Finansbank Romania concluded last year with gross profits of 3.8 million euros compared with 2.1 million euros in 2003. “Finansbank had a successful 2004, with better financial results, a wider range of products and an extensive network of branches. Despite intense investment in the development of services, human resources, cards and the underlying IT infrastructure, the bank still finished 2004 in profit,” said Tamer Ozatakul, president of the bank. The bank’s assets doubled in 2004 to 200 million euros. The improved performance was made possible by the 88% increase in equity capital from 11.9 million euros to 22.4 million euros. Deposits by clients amounted to 137.9 million euros, compared with 85.9 million euros at the end of 2003. “With more than 200,000 individuals and 15,000 legal bodies as clients, Finansbank Romania has achieved its goal of 1% market share in domestic banking, 5% of the consumer loans market and 7% of the cards market,” Ozatakul added. ZF