The Romanian subsidiary of Greek banking group Piraeus posted a net profit of almost EUR 4.6 million in the first quarter of this year, compared to EUR 2.4 million in the same period last year, which is an increase of 90 percent.

Piraeus Bank’s total loan portfolio grew by 21 percent in the last year, to over EUR 1.6 billion end-March 2014, while the bank’s deposits went up by 17 percent to 1.08 billion. Total assets were almost EUR 2 billion, which is 7 percent higher that end-March 2013, according to a press release from the bank.

End-March 2014, the bank had a network of 140 units in Romania and over 300,000 customers.

editor@romania-insider.com