EnglishBanca Romaneasca posted 43,7 million RON in gross profit in 2006, rising nearly threefold compared to 2005. The bank"s total assets increased by 58%, totaling 3,5 billion RON (1,067 billion EUR). Loans granted totalled 2,26 billion RON, increasing by 55%, while deposits amounted to 1,13 billion RON, up 98% year-on-year.
Presently, Banca Romaneasca has 90 branches. The bank"s management intends to expand the branch network to 120 by the end of the year and to reach 190 branches by the end of 2009. The bank"s profit will most likely drop this year because its aim is to increase market share, said Andreas Maragkoudakis, CEO of Banca Romaneasca.
The National Bank of Greece, the parent company of Banca Romaneasca, currently obtains approximately 30% of its profit outside Greece. For 2009, the group expects this percentage to reach 50%. In Romania, the group eyes a 5% market share by 2009, on both loans and deposits segments. Established in 1993, Banca Romaneasca was acquired ten years later by the National Bank of Greece, which currently holds 88,7% in the Romanian bank.
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