The bank estimates 5-6 million euro losses at the end of the year. It had a 470,250 euro profit after the first three months of 2008.

ProCredit Bank managed assets of 283 million euros at the end of March, down 3.4 percent over the 293 million euros at the end of 2008, owing to differences of the exchange rate.

The bank granted loans worth 205 million euros in the first quarter, versus 217 million euros at the end of last year, while deposits amounted to 160 million euros, close to the value recorded in December last year.

The managing director of ProCredit Bank said he expected lower interests in the next period, but for savings first.

Provisions rose significantly in the past period, to almost 2 million euros on the profit and losses account and up to 9.5 million euros on the balance sheet. Their further evolution will depend on the way Romania's economy will revive, Rotne said.

The managing director also mentioned he expected a comeback of the construction sector, but not at the same rate as in the previous years. ProCredit Bank is currently focusing on the agricultural sector and on the businesses in charge with current needs, which are considered to have growth potential.

Romania's economy deteriorated very quickly exactly in the sectors that represented the economy's engine: real estate transactions, consumer loans and exports, Rotne added.

ProCredit has a 2 percent exposure on the real estate segment and a 20 percent one in the agriculture sector.

The average amount contracted through a loan from ProCredit Bank stands at 5,000 euros, maturing in up to 15 years. Most companies use the money to buy equipments or raw materials.