EFG Eurobank’s profit tops Romanian banks total

Eurobank EFG posted net profit of €73 mln in Eastern Europe, higher than the €60 mln target. The group was present on eight markets by the end of 2007, with total assets of €68 billion, a network of over 1,500 units, and 22,000 employees. Business evolution in Greece and Eastern European countries led to profits that exceeded management forecasts, says Eurobank EFG.

The group’s representatives showed that they target net profit of €1.03 bln in 2008 and €1.55 bln in 2010. Its total loan portfolio increased by 33.7 percent, to €46.7 bln, due to demand on Greek and Eastern European markets, according to a bank communique. Business on the Romanian market brought EFG Eurobank a net profit of €28.8 mln, due to a doubling of bank assets and a tripling of loans.