Alpha Bank, the domestic subsidiary of a major Greek financial group, will capitalise its entire 2010 profit to strengthen its capital base, says Sergiu Oprescu, executive president of the bank.
Alpha group on Wednesday evening announced in Athens it derived 49m-euro gross income in 2010 from Romanian operations, down 3% from the previous year. Profits shrank as provisions slightly increased, by 6%, to 79m euros, while operating revenues stalled at 220m euros.
"Profit made in the previous year will be used to strengthen capital, in line with the traditionally pursued strategy. I believe in 2011 we will see an increase (of loans) on the segment of companies having export as their core business," Oprescu told ZF. The shortlist of appealing niches includes energy companies, as well as project co-funding from European funds.
Alpha last year managed to preserve its operating revenues even as the loan volume slid by 14%, to 3.6bn euros. The steepest decline was registered in the area of corporate funding, which slipped from 3.1 to 2.5bn euros.
Alpha Bank, the domestic subsidiary of a major Greek financial group, will capitalise its entire 2010 profit to strengthen its capital base, says Sergiu Oprescu, executive president of the bank.
Alpha group on Wednesday evening announced in Athens it derived 49m-euro gross income in 2010 from Romanian operations, down 3% from the previous year. Profits shrank as provisions slightly increased, by 6%, to 79m euros, while operating revenues stalled at 220m euros.
"Profit made in the previous year will be used to strengthen capital, in line with the traditionally pursued strategy. I believe in 2011 we will see an increase (of loans) on the segment of companies having export as their core business," Oprescu told ZF. The shortlist of appealing niches includes energy companies, as well as project co-
