Volksbank International, which owns the eighth largest bank inRomania in terms of assets, last year registered net losses of 36meuros from Romanian operations, stated Friedhelm Boschert, thebank's CEO, in an interview with a publication, also published byReuters.
Contacted by ZF, Volksbank Romania representatives did not commenton the information, only specifying that the data presented inVienna were preliminary ones, with the audited figures due to bepublished at the end of this month.
The domestic bank is Volksbank International's only unit to post anegative figure last year, while in all the other nine countries itis operational in, the group derived profit. Incomes from othermarkets could not offset the Bucharest loss, though, so that at anaggregate level Volksbank International had a 21.8m-euroloss.
Romania is the biggest foreign market for the Austrians,concentrating around a third of the group's assets.
Though Volksbank International set up 238m-euro bad loan provisionslast year, Boschert says he is confident the bank will switch toprofit in 2011.
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