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Alpha Bank: We'll capitalise 2010 profit, corporate loans may rise

Alpha Bank: We'll capitalise 2010 profit, corporate loans may rise

Autor: Liviu Chiru

23.03.2011, 23:43 14

Alpha Bank, the domestic subsidiary of a major Greek financialgroup, will capitalise its entire 2010 profit to strengthen itscapital base, says Sergiu Oprescu, executive president of thebank.

Alpha group on Wednesday evening announced in Athens itderived 49m-euro gross income in 2010 from Romanian operations,down 3% from the previous year. Profits shrank as provisionsslightly increased, by 6%, to 79m euros, while operating revenuesstalled at 220m euros.

"Profit made in the previous year will be used to strengthencapital, in line with the traditionally pursued strategy. I believein 2011 we will see an increase (of loans) on the segment ofcompanies having export as their core business," Oprescu told ZF.The shortlist of appealing niches includes energy companies, aswell as project co-funding from European funds.

Alpha last year managed to preserve its operating revenues evenas the loan volume slid by 14%, to 3.6bn euros. The steepestdecline was registered in the area of corporate funding, whichslipped from 3.1 to 2.5bn euros.

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