Greek group Alpha Bank, which controls one of the top ten localbanks by assets, reported a 10.2 million-euro gross profit in thethird quarter from operations carried out in Romania, up 23%against the similar period of 2009.
The cumulated gross profit recorded in the first nine monthsamounted to 33.9 million euros, down 21% on January-September 2009,according to data published by the Athens-based group. Thenine-month profit was affected by the accelerated rise of provisioncosts in the first part of the year, which could not be offset bythe revenue increase and by the decline in operating costs.
The bank allocated provisions to cover losses generated bynon-performing loans worth 71.7 million euros between January andSeptember, up 54% against the similar period of last year. However,the pressure of provisions lessened in the third quarter, whentheir value rose by 5%, to 24.7 million euros. Alpha Bank had aloan portfolio worth 3.75 billion euros at the end of September,down 12.5% against September 2009.
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