Alpha Bank Romania 9-mo pre-tax profit soars 83% y/y

Alpha Bank Romania's operational profit rose by an annual 33.8% to 28.5 million euro in the first nine months of 2022, it said in a press release.

Considering the increasing inflationary pressures, costs were carefully monitored, and efficient risk management generated space for improving profitability, the bank added.

During January-September the bank's assets grew by an annual 11%, to nearly 4.1 billion euro.

Alpha Bank Romania's loan portfolio saw an 8.1% increase year-on-year, reaching 2.9 billion euro at end-September, on the basis of a solid commercial performance both in corporate and individuals financing.

New financing granted to large companies increased by an annual 35%, while the amount of loans towards small and medium enterprises (SMEs) increased by 55% year-on-year during January-September.

Alpha Bank Romania's deposits from customers rose 7.3% on the year to 2.8 billion euro.

At the end of last month, Alpha Bank Romania announced it had leased 5,000 sq m of office space in Globe Trade Centre's City Gate office complex in Bucharest, where it will be relocating a part of its operations starting 2023.

Alpha Bank Romania is a universal bank and a member of the Greek Alpha Bank Group, established in 1879. The bank offers services and products for individuals, as well as for SMEs and the corporate segment.

($=1.0001 euro)