Milleninum Bank reduces loss in Romania in first quarter

Millennium Bank posted a loss of EUR 6.4 million in the first quarter of the year in Romania, down 14 percent on the loss posted during the same period of last year. The bank's operational costs in Romania grew by 5.4 percent, to EUR 10.9 million in the first three months of this year, while its revenues from banking operations went up by 23.3 percent, to EUR 6.4 million. The bank managed to increase the volume of granted loans from EUR 285 million at the end of Q1 2010 to a current EUR 343 million. Millennium Bank is part of the Portuguese financial group Millenium bcp and started activities in Romania in October 2007. editor@romania-insider.com