Net profit of Bank Leumi Romania boosts 72% in H1

Bank Leumi Romania, subsidiary of Israeli financial group Leumi, reported a net profit of 8.6 million lei in the first semester, a 72 percent hike over the same period in the previous year, a report from the mother-bank shows.

The lender had a net profit of 5 million lei in the first half last year.

Its net profit added 67 percent year-on-year in the first quarter, to 3.96 million lei, while the assets rose 21.7 percent.

Bank Leumi rolled into the local market in August 2006 after taking over the majority stake of Eurom Bank from the Dutch company Kolal BV, in exchange of 34 million U.S. dollars.

Outside of Israel, the bank also counts units in Great Britain, Switzerland, Luxembourg and United States.

The group booked a net profit of 168.5 million euros in the first semester, 31.1 percent down from the same period last year. Assets amounted to 130 billion euros in mid-2009, 11 percent higher than at the end of June 2008.


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