ATE Bank boasts 229m euros in assets

Greece-based ATE Bank reached 229 million euros in assets on the Romanian market at the end of the third quarter of the year, up 79% against September last year. Therefore, the Romanian subsidiary of the bank remains one of the smallest players in the system, with an under 0.5% market share. The Greeks posted a net profit worth 1.2 million euros nine months into the year, compared with 0.5 million euros in the same period of 2007. Halfway into the year, the bank recorded net losses worth 0.8 million euros, but managed to step into the black in the third quarter. "We are striving to stay in the black, although it is difficult amid the turmoil on the financial markets," said Alina Pascu, vice-president of the bank, in charge of retail operations.