Greek Alpha Bank records EUR 1.4 mln profit in Romania in first quarter

Greek lender Alpha Bank reported a profit of EUR 1.4 million in Romania in the first quarter, compared to loss reported in the same period of 2013. Provisions decreased by some 45 percent to EUR 14.4 million, while operating expenses dropped 3.6 percent to EUR 21 million. The operating income increased by 3.4 percent, to EUR 36.8 million, according to the lender's financial report. The non-performing loans NPL ratio stood at 14.4 percent in the first quarter of 2014, while the lender’s loan market share was of 5.7 percent. The deposits amounted to EUR 1.4 billion, up 6.6 percent year-on-year. Alpha Bank runs 149 branches in Romania and employs over 2,000 people. Irina Popescu, irina.popescu@romania-insider.com