Alpha Bank profit close to triple year-on-year

The local branch, owned by Greek Alpha Bank, registered operating profit in the first half of the year from banking operations worth €84.5 million, 85.7 percent higher than in H1 2007.

The rise in its loan portfolio also led to a higher market share, up to 7 percent, compared to a previous 5.5 percent. The loan balance amounted to €3.5 billion, compared to €2.72 billion at the end of 2007. In Q2 alone, the bank granted loans worth €516 million.

The most significant increase was registered on the mortgage segment, of 138 percent, up to €448 million.

However, corporate loans make up most of the bank’s portfolio, totaling €2.62 billion after H1, 68 percent higher than in the first six months in 2007.

Deposits attracted by the bank amounted to €1.33 billion, 36 percent higher year-on-year.

Operating expenses rose 51.8 percent, to €46.6 million. The lender opened 61 new units in the past year, currently totaling 145 branches. Alpha Bank targets 380 units in Romania by 2010.