Banca Romaneasca, the Romanian subsidiary of Greek groupNational Bank of Greece, posted a 5 million-euro profit in thethird quarter of the year, 37% lower than in the similar period of2008, under pressure from loan-loss provision expenses. The declinecame even amid a rise to 17 million euros in operating profit(before the setting up of provisions), from 15 million euros in thesecond quarter of the year, according to data presented in Athensby NBG. The results are calculated in line with internationalaccounting standards. Individually, Banca Romaneasca set upprovisions worth 7.3 million euros, compared with 8.8 million eurosin the second quarter, according to Traian Halalai, 39, deputygeneral manager of the bank. He expects non-performing loans(overdue by 90 days) to slow down, which means provision costs willalso diminish. "For 2010 we expect an around 15% decline innon-performing loans as a result of steps to improve loancollection," Halalai says.
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