The Romanian subsidiary of Alpha Bank announced EUR 34 million net profit in January-September 2023 (slightly down from EUR 36.7 million reported in the same period last year) and EUR 4.48 billion assets at the end of September.

This equates to a 1.0% annualised ROA (weaker compared to the same period last year), inferior to the average benchmark for the entire local banking market in January-June (1.88%) and the past years in general.

On the upside, the bank’s loan portfolio increased by 10.3% y/y (to EUR 3.1 billion), more than twice the advance of the non-government loans in Romania, Profit.ro reported. The stock of deposits surged by 19.1% y/y to EUR 3.3 billion.

The new loans in January-September surged by 30% y/y on the SME segment and by 24% y/y on the large corporate segment while advancing by 9% y/y on the consumer lending segment.

Alpha Bank has recently reached an agreement to merge with UniCredit.

iulian@romania-insider.com

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