Romanian lender Bancpost recorded a net profit of EUR 7.8 million in the first half of the year. This was due to the cut in operational costs and the drop in non-performing loans (NPL).

The Greek group EFG Eurobank Ergasias, the parent bank of Bancpost, reported for the first half of 2014 losses of almost EUR 15 million in Romania, where it controls several financial services companies, Bancpost being the largest.

“Bancpost has a strong position in terms of capital and liquidity and, as a systemic bank in Romania, will continue to participate actively in supporting its customers,” said George Georgakopoulos, Bancpost’s CEO.

The NPL rate dropped to 16.3% of the total credits from 21% in mid-2014.

Eurobank recorded a profit of EUR 2.3 million in Romania in the first quarter.

editor@romania-insider.com