Romanian lender Bancpost records EUR 6.4 mln profit in the first half

Local lender Bancpost recorded a profit of EUR 6.4 million in the first six months of the year. The bank had a positive evolution compared to the same period last year, when had a net loss of EUR 800,000. The lender’s total assets saw a small increase compared to the first six months of last year, but remained at a similar level to the end of 2015. The deposits rose by 11% to over EUR 1.95 billion whereas the gross loans amounted to almost EUR 1.3 billion at the end of June. The loan /deposit ratio reached 66%, a level which indicates the bank’s financial independence. The operating costs of Bancpost dropped by 9.1% compared to the first half of 2015, due to the bank’s efforts to streamline its operations. According to Philippos Karamanolis, Bancpost executive president, it’s important that the lender managed to maintain its profitability in the first half, despite the challenging context, characterized by a low level of yields and adverse laws. editor@romania-insider.com