The Romanian subsidiary of the Royal Bank of Scotland (RBS) posted a profit of EUR 23.3 million in the first nine months of the year and hopes to reach EUR 30.3 million in profit by the end of the year, according to Johan Patrick Gabriels, the RBS Romania president. If achieved, the profit would be similar to the one in 2009, according to Agerpres newswire.

For 2011, Gabriels hopes for an 10 percent profit increase. “Romania will recover if Romanian firms will go to foreign markets like Germany, France, Italy, UK,” said Gabriels.

RBS has recently moved to new headquarters in the Lake View office building in Bucharest. The bank has been active for the last 15 years in Romania, initially under the ABN Amro brand.

editor@romania-insider.com