Greek financial group EFG Eurobank, the majority shareholder in lender Bancpost recorded a loss of EUR 1.1 million in the first quarter of 2011 in Romania, according to the group’s report. EFG Eurobank posted a profit of EUR 2.1 million during the same period last year.

EFG's operating income in Romania in the first three months fell to EUR 67.3 million from EUR 84 million recorded between January and March 2010. However, the operating expenses decreased by 6.3 percent during this period, to EUR 39.9 million, compared to the first three months of 2010, when it stood at EUR 42.7 million

The total assets managed by the group in Romania stood at EUR 5 billion at the end of the first three months of this year, shows the report. EFG Eurobank’s loans in Romania reached EUR 3.3 billion at the end of March, compared to the same time in 2010, when lending was placed at EUR 3.4 billion. Also, the deposits grew to EUR 1.9  billion in the first quarter, compared to EUR 1.9 billion recorded at the end of March last year.

EFG Eurobank is currently active on the market in Romania through Bancpost, EFG Retail Services IFN, EFG Eurobank Mutual Funds Management Romania SAI, EFG Eurobank Finance Romania, EFG Eurobank Securities Romania, EFG Eurobank Leasing, EFG Eurobank Property Services, EFG IT Shared Services, EFG Eurolife General Insurance and EFG Eurolife Life Insurance.

Irina Popescu, irina.popescu@romania-insider.com