EFG Eurobank Posts EUR1.1M Loss In Romania In 1Q

05.25.2011 By Andrei Cîrchelan

Greek group EFG Eurobank on Wednesday reported a first quarter loss of EUR1.1 million in Romania, compared to EUR2.1 million profit in the same interval last year.

The group's local assets dropped 5.6% in value, to EUR5.06 billion, from EUR5.36 billion at the end of the year. In March 2010, the group had assets worth EUR5.47 billion in Romania.

Loans cumulated EUR3.38 billion, from EUR3.32 billion at the end of last year, while deposits rose to EUR1.94 billion, from EUR1.86 billion in the interval analyzed.

Operating revenue dropped 25% on the year in the first quarter, to EUR67.3 million, while operating expenditure dropped 6.3%, to EUR40 million.

The group's network had 284 retail units in March, compared to 286 at the end of 2010.

EFG Eurobank controls Bancpost on the Romanian market. Other companies controlled locally by EFG Eurobank include EFG Retail Services IFN, EFG Eurobank Finance - Romania, EFG Eurobank Securities - Romania, EFG Eurobank Leasing, EFG Eurobank Property Services, EFG IT Shared Services, EFG Eurolife Asigurari Generale and EFG Eurolife Asigurari de Viata.