Banking operations of EFG Eurobank in Romania, parent-bank of Bancpost, generated a net loss of €4.3 million, 43% lower than €7.6 million in first half, thanks to its cost-containment program.
Before taxes and minority interest, the loss posted by the Greek-based group for its operations in Romania amounted to €17.6million in the first nine months, compared to €19.6million gross loss in the first half.
EFG Eurobank’s total assets in the country fell 4% in the 12 months through September 2009, from €5.76 billion to €5.525 billion. Compared to €6.17million in the first half, total assets dropped at a 10.5% rate.
Operating revenues for the first nine months stood at €236.8million, 4.5% below Jan-Sep 2008 level of €248 million. Operating expenses decreased at a twice bigger rate, of 8.8% to €135 million, from €148 million in the first three quarters.
EFG Eurobank’s loan book stood at €3.54 billion, 14.5% less than €4.14 billion in the same period of last year. Customer deposits dropped 20.5% year-on-year, from €2.49 billion to €1.98 billion.
EFG Eurobank’s network in Romania includes 305 outlets. EFG Eurobank opened 12 retail units in third quarter only, its network reaching 286 units, and adding 19 corporate outlets.
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