English
ProCredit Bank Romania reported a 48% increase in asset value over the first nine months of the year to 289 million EUR. The bank attracted 160 million EUR worth of deposits from both individuals and corporate customers. Nine months through 2006, ProCredit had reported an asset value of 196 million EUR.
After the first three quarters of 2007, the bank posted a net profit of 856,940 EUR, up by 41.2% y/y from 606,860 EUR, according to President Michael Kowalski. The bank has some 80,000 customers and reported a 49% increase in the value of the credit portfolio to a total of 38,000 loans worth 205 million EUR.
Fitch Ratings last week improved ProCredit Bank Romania"s rating from D/E to D and confirmed the BB+ rating for long-term forex- and RON-denominated loans. The short-term rating is B. ProCredit Group operates in 19 countries on three continents. The Romanian branch has a 0.43% share of the banking market.
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