Alpha Bank Romania reports stable profit and 10.3% higher loan portfolio at end-Sept
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.
iulian ernst · Journalist
· Updated · 1 min read
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.
(Photo source: Cristi Croitoru/Dreamstime.com)
