Italo Romena bank's net profit down 18% last year

The Italo Romena bank ended 2010 with a net profit of EUR 10.1 million, down 18 percent compared with 2009, according to the bank. The volume of deposits exceeded EUR 525 million, representing an increase of EUR 207.8 million compared to the previous year, of which EUR 71 million were funds raised from customers and EUR 136 million were bonds issued. Last year, its total assets decreased slightly from 2009 to EUR 1.06 billion, while the total lending of the bank was EUR 960 million, from EUR 988 million in 2009. The share of nonperforming loans from the total loan portfolio increased from 2.01 percent in 2009 to 2.87 percent in 2010. Italo Romena bank was founded in 1980. Since 2000, it is part of the Veneto Banca group. Its headquarters is located in Treviso, Italy. 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 (in photo: Giulio Simonelli, general manager of Italo Romena bank)