Bancpost tripled profit to €22 mln in 2007

The bank’s assets amounted to some €4 billion at the end of 2007, more than 50 percent higher year-on-year.

According to Bancpost President, Mihai Bogza, for Business Standard, the bank had a difficult goal in 2007 to increase its profitability and its market share by 1 percent, simultaneously.

The lender had 238 branches last year and plans to open a further 74 units in 2008. It also doubled the balance of loans granted in the first 10 months of 2007, compared to September 2006, to €2.8 billion, according to data published in Athens by EFG Eurobank yesterday.

The increase in profits comes after two years of massive investments in restructuring, which impacted significantly on the bank’s financial results.