Italo Romena bank ends 2013 with loss of EUR 11 mln

The Italo Romena bank ended last year with assets of EUR 1.19 billion, up 4.5 percent, but registered a net loss of EUR 11.7 million, amid provisioning of some EUR 25 million. The volume of loans to customers amounted to EUR 882 million, down 6.9 percent compared to the previous year, reports local Wall-street.ro. The volume of non-performing loans reached EUR 127.5 million at the end of 2013, up EUR 29.6 million from the year before, with a share of 14.4 percent in the total portfolio, under the average level of the system (some 20 percent). The bank posted a loss of EUR 11.08 million in 2012. Italo Romena bank was founded in 1980 and since 2000 has been part of Veneto Banca Group. The Romanian subsidiary has 22 agencies, including five in Bucharest and 17 located in major cities in the country. Irina Popescu, irina.popescu@romania-insider.com