Biggest banking group in Italy triples profit in Romania

Intesa Sanpaolo Bank, the Romanian subsidiary of Intesa Sanpaolo – the biggest banking group in Italy, recorded an operating income of RON 154 million (EUR 33.7 million) and a net profit of RON 43 million (EUR 9.4 million) in 2017, three times higher than in 2016. The bank strategically positioned itself as a fully specialized lender focused on the Corporate and SME business segments, which contributed to its overall performance last year. Corporate and SME loans increased by approximately 25%, to RON 1.71 billion (EUR 367 million) at the end of 2017. The total volume of corporate and SME deposits also grew by 15%, to RON 1.23 billion (EUR 265 million). The bank’s assets registered an 8% increase last year, to RON 4.78 billion (over EUR 1 billion). “Our aim is to further consolidate our position in Romania mainly on Corporate and SME segments,” said Marco Capellini, CEO of Intesa Sanpaolo Bank Romania. editor@romania-insider.com