English
Volksbank Romania posted a gross profit of 10.8 million EUR in the first six months of the current year, the amount being equal to nearly 79% of the bank"s gross profit for the whole year 2006, according to a Volksbank announcement quoted by NewsIn. The increase is due to a 68% rise in the bank"s credit portfolio.
Last year, Volksbank Romania reported a gross profit of 13.7 million RON. In the first three months of this year, earnings before taxes amounted to 4,1 million EUR. The bank"s credit portfolio totaled 1.348 billion EUR in the first quarter of 2007, up 68% from December 2006. Volksbank Romania had estimated a gross profit of 22 million EUR for the entire year 2007, a 60% increase from last year. Thus, the bank expects its gross profit to increase to 26 - 27 million EUR by year-end, compared with 13.7 million EUR in 2006.
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