Greek-based EFG Eurobank, majority shareholder of Bancpost, said its first-quarter net profit stood at €2.1 million compared with a €4.1 million loss in the same period of 2009.
EFG’s operating profit in Romania rose 6.19% in the January-March period to €84 million, from €79.1 million a year earlier.
Operating expenses dropped 6.15% in the period under review, to €42.7 million versus €45.5 million in the year-ago period.
The group’s assets in Romania dropped 9.83% year-on-year in the first quarter to €5.470 billion from €6.066 billion the bank said.
EFG Eurobank’s loan book in Romania totaled €3.426 billion in Jan-Mar 2010, 8.83% below year-ago level of €3.758 billion.
Customer deposits in Romania narrowed 18.61% to €1.919 billion from €2.358 billion in the same period of last year.
EFG Eurobank downsized its retail network by 7 outlets in the twelve-month period into March 2010, and shut down three business outlets to a network of 16.
EFG Eurobank is present in Romania through Bancpost, EFG Retail Services IFN, EFG Eurobank Mutual Funds Management Romania SAI, EFG Eurobank Finance Romania, EFG Eurobank Securities Romania, EFG Eurobank Leasing, EFG Eurobank Property Services, EFG IT Shared Services, EFG Eurolife General Insurances and EFG Eurolife Life Insurances.
Eurobank EFG Group has an established presence in Greece, Bulgaria, Serbia, Romania, Turkey, Poland, Ukraine, United Kingdom, Luxembourg, and Cyprus. Eurobank EFG is member of EFG Group, the third largest banking group in Switzerland by size.
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