Italian lender Intesa Sanpaolo grew its first quarter loss in Romania to EUR 2 million, double on the loss posted the same quarter of last year, according to the bank's report. It managed to post an operational profit of EUR 3 million but the weight of provisions ate out of its net profit.

The bank's operational revenues were of EUR 12 million, a drop of 10.4 percent on the same period of lats year, while its operational costs stood at EUR 9 million, also down on Q1 in 2010.

Intesa Sanpaolo has EUR 1.1 billion of assets in Romania, covering only 0.2 percent of the group's total assets. The Italian group owns Intesa Sanpaolo Bank Romania and CR Firenze Romania.

editor@romania-insider.com