March 11 (SeeNews) - The Romanian subsidiary of Greece's Alpha Bank said it recorded a net profit of 38 million euro ($41.57 million) last year.
Alpha Bank Romania's capitalisation and liquidity remained high in 2023, surpassing industry-specific regulatory requirements, the lender said in a press release on Friday.
According to earlier disclosed data, Alpha Bank Romania's net profit had reached 33 million euro in 2022.
The bank's loan portfolio increased by 9% on the year in 2023 to 3.2 billion euro net exposure. The volume of loans granted to large companies increased by 22%. New loans granted to small and medium-sized enterprises (SMEs) also rose by 22%, while consumer loans increased by 12%.
Customer deposits rose to 3.5 billion euro in 2023, increasing by an annual 18%.
The bank's total assets reached 4.7 billion euro at the end of 2023, growing by 11% year-on-year.
In 2023, the bank launched a partnership with the European Investment Fund (EIF) to act as a financial intermediary within the Competitiveness and Sustainability components of Romania's National Recovery and Resilience Plan (NRRP).
In October, UniCredit Romania, part of Italy's UniCredit Group, said it will merge with Alpha Bank Romania. Alpha Bank will retain a 9.9% stake in the merged entity and receive a cash payment of 300 million euro. The merger will create Romania's third largest lender by assets, according to Alpha Services and Holdings.
($=0.913860 euro)
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