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Bank Leumi Romania ended the first six months of 2007 with total assets worth 340,2 million USD, double the level seen in the same period last year, due to a significant increase in loans to customers, according to a company press release. In the first half of 2006, Bank Leumi Romania recorded assets worth 160.2 million USD.
Loans to customers advanced 2.7 times to 198 million USD in the first half of the year, as compared to 73.4 million USD in H1/06. Deposits totalled 249.4 million USD, recording an 86.25% increase from 133.9 million USD in the first half of 2006.
Bank Leumi Romania, a subsidiary of the Leumi Group, posted losses of 3.3 million RON (1.4 million USD) in the first six months of the year, according to a parent company press release. On August 22nd, Bank Leumi Romania increased its share capital by 85 million RON (36 million USD) to 174.81 million RON, in order to sustain its development strategy. The bank estimates it will swing to profit in 2008, according to CEO Zalman Segal. The bank will continue its development strategy, focusing on network expansion.
Leumi Group ended the second quarter of 2007 with a net profit of 215 million USD, recording a 141.5% increase from the year-ago quarter. Bank Leumi România is controlled by Bank Leumi Ie-Israel with 99.71%.
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