Piraeus Bank Romania upped its gross profit by 88% in the first nine months of 2014, compared to the same period the previous year, to EUR 6.8 million. The growth was mainly supported by lower provisions and higher loans, reports local Mediafax.

The bank’s assets stood at some EUR 2.06 billion at the end of September, up 14% year-on-year.

Piraeus granted loans worth some EUR 1.5 billion between January and September, which represented an increase of 9% compared to the same period in 2013, while provisions dropped by 11%.

In late-September, the bank had some 300,000 customers and a network of 130 branches in Romania.

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