Intesa Sanpaolo Bank Romania, the local subsidiary of Intesa Sanpaolo Group, posted a net profit of some EUR 114,000 (RON 500,000) in the first half of this year. The bank’s operating profit recorded a year-on-year increase of some 40 percent, to over EUR 9.3 million (RON 41 million) in the first six months of 2013.

The bank’s positive results were mainly triggered by higher revenues - up 2 percent compared to the first half last year, and a 12 percent decrease of operational costs, according to the bank.

Intesa Sanpaolo Bank’s gross loan portfolio in the first six months of this year recorded a 4 percent increase over the same period in 2012, while the total volume of loans in the Romanian banking system decreased by over 2 percent. The bank’s deposits from customers recorded a year-on-year increase of 20 percent while the total banking deposits on the market went up 2.7 percent.

Intesa Sanpaolo Bank’s net assets after provisions stayed at EUR 1.1 billion (RON 5 billion), according to the bank.

Intesa Sanpaolo has a selected presence in Central Eastern Europe, Middle East and North Africa with over 1,500 branches and 8.3 million customers operating in retail and commercial banking in 12 countries.

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

(photo source: the bank)