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Volksbank Romania raises profit before tax 54% to EUR 37.8m last year

Autor: Bancherul.ro
2009-02-24 14:04

Lender Volksbank Romania announced its profit before tax advanced an annual 54 percent last year to 37.8 million euros helped by the hike of assets, financial results show.

In 2007 the bank�s profit before tax stood at 24.5 million euros.

Assets climbed 51 percent at the end of last year to 5.3 billion euros. Loans increased by 49 percent to 3.3 billion euros at the end of 2008 over the similar period of 2007. Deposits advanced only 6 percent to 567 million euros.

The bank�s risk provisions reached 34 million euros, growing from a previous 19 million euros.

The cost income ratio stood at 49.6 percent last year, from 48.1 percent in 2007.

Volksbank Romania opened last year 37 new units, to a web of 173.

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