Italian bank sees 28% drop in net profit in Romania

Italian lender Intesa Sanpaolo’s net profit in Romania dropped by 28.6% in the first six months of the year reaching EUR 5 million. The decrease was related to lower revenues from the lending activity, according to the bank’s financial report. By comparison, Intesa Sanpaolo reached a net profit of EUR 7 million in Romania in the first half of 2015. The bank’s operating income dropped by 11.3% in the first six months of this year, reaching EUR 19 million, whereas the operating costs went down by 16.5% to EUR 11 million. Intesa Sanpaolo was one of the banks with the best results in Europe at the stress tests carried out by the European Banking Authority (EBA). The operating margin of the bank’s activities in Romania dropped by 2.3% to EUR 8 million. The bank had a loan portfolio worth EUR 600 million at the end of June, down from EUR 700 million in June 2015. editor@romania-insider.com