Banca Romaneasca makes EUR 2 mln profit, lower due to cost of credit and provisions

Banca Romaneasca, owned by the National Bank of Greece posted a EUR 2 million profit in the second quarter of the year, which was less than half of the profit in the same period of last year. The bank posted EUR 12 million in profit in the first quarter of this year. Overall, the first half of the year brought a 12 percent profit increase for the bank, compared to the same period of 2009. The bank was affected by the increasing cost of financing and by the increase in provisions. The bank's provision expenses reached EUR 20 million in the first six months, which was 6 percent higher than in the similar period of 2009. The bank doesn't expect significant changes in terms of profitability in the second part of the year, given the current local and international economic climate. romania-insider.com