Greek group Eurobank, the owner of local lender Bancpost, recorded a profit of EUR 2.3 million in Romania in the first quarter.

Last year, the company had losses in every quarter, because of provisions made for bad loans. In 2014, Eurobank recorded a loss of EUR 151.2 million in Romania, and made provisions of EUR 145.4 million.

The Greek bank’s assets in Romania amounted at the end of the first quarter to EUR 3.3 billion, up from EUR 3.26 billion in the fourth quarter of 2014.

Its operating income reached EUR 36.5 million in the first quarter, slightly down on the EUR 37.3 million it posted in the previous quarter.

The gross balance of loans increased by 2% compared to the last three months of 2014, reaching EUR 2.59 billion. In the first quarter of 2015, the loan balance amounted to EUR 2.65 billion.

editor@romania-insider.com