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Nov 09, 2022 16:13 EEST
November 9 (SeeNews) - The Romanian branch of Greece's Alpha Bank said its pre-tax profit soared to 36.7 million euro ($36.85 million) in the first nine months of 2022, from 20.1 million euro in the same period of last year.
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.
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