The Romanian subsidiary of Greek group Alpha Bank reported that its gross profit plunged four-fold in the first half of the year (H1) compared to the same period of 2019, to EUR 1.2 mln.

Its loan portfolio edged up marginally by 0.9% as of the end of H1 compared to mid-2019, to EUR 2.65 billion, Ziarul Financiar reported.

The stock of mortgage loans increased by 5.1% year-on-year to EUR 1.19 bln, while the corporate loan portfolio contracted by 1.8% to EUR 1.23 bln, and the consumer loan portfolio also dropped by 5% compared to mid-2019, to EUR 228 million.

The entire banking system reported higher aggregated earnings in H1, compared to the same period last year, while the stock of non-government loans increased by 4.1% year on year (+1.8% when expressed in euros) at the end of June.

For H1 2019, Alpha Bank reported a gross profit of EUR 9.9 mln, and for the whole year 2019, its gross profit reached EUR 14.4 mln.

Last year was the fourth consecutive year in the black for the bank, according to the data presented by the parent group in Athens.

(Photo: Pixabay)

iulian@romania-insider.com