Alpha Bank Romania in the red as expenditures gain fight against revenues

The Romanian unit of the Greek lender saw a 23.3 profit before tax, in the first nine months of the year. Operational revenues rose 17.6 percent, to 72.2 million euros.  Operational expenditures upped 46.1 percent, to 48.8 million euros. The bank’s nine-month gross profit totaled 28 million euros. The credit portfolio advanced 124 percent, to 2.346 billion euros. Three quarters of the total loans were granted to companies.

Client deposits rose 28 percent, to almost 1 billion euros. Alpha Bank increased its market share in Romania, on the crediting area, by 1.9 percentage points, to 6 percent. The bank added some 42 units to its chain, reaching a total of 96.

Source: NewsIn