The Romanian subsidiary of Austria’s Volksbank forecast that the profitability of the bank will triple this...
The Romanian subsidiary of Austria’s Volksbank forecast that the profitability of the bank will triple this year, the bank’s president Gerald Schreiner told a press conference in Bucharest on Wednesday, June 28.
While presenting the first five months financial results, Schreiner said that Volksbank Romania estimates to reach a profit of EUR 10-12 million. The bank’s net profit last year stood at EUR 3 million.
In the first five months of the year, Wolksbank Romania registered a profit of EUR 4.97 million, and a value of assets of EUR 648 million.
Volksbank has 90,779 and 49 own branches and 22 franchise units throughout Romania.
Other three franchise units are to be opened by July 3, and up to 25 by the end of the year.
On Wednesday, Wolksbank Romania opened a coffee shop in partnership with Protrans company, and the bank plans to open two more by the end of the year.