Alpha Bank's six-month profit in Romania, down to EUR 5.4 million

Greek bank Alpha Bank, which has recently approved the merger with EFG Eurobank – Bancpost in Romania – posted a profit before tax of EUR 5.4 million in the first six months of 2011 on the local market, the lender has announced. This was a 77.4 percent year-on-year decrease. The profit in Romania was the second largest after the one in Cyprus. With 165 branches in Romania, Alpha Bank had EUR 3.5 billion of loans in Romania at the end of June this year, of which EUR 851 million were mortgage loans and EUR 267 million were consumer loans. Deposits reached EUR 1.3 billion, down 3.9 percent year-on-year, while the drop in loans was higher, of 15.3 percent year-on-year. Read the full presentation of the H1 financial results here. editor@romania-insider.com