Piraeus Bank reports gross profit of 2.1 mln euro in 2014

The Romanian subsidiary of Piraeus Bank Group recorded a gross profit of 2.1 million euro in 2014, down by 36.4 from 3.3 million in the previous year. 

The bank's assets stood at about 2 billion euro, states a press release.

”In 2014, Piraeus Bank focused on the quality of offerings, as well as on the rationalisation of its business segments, thus improving its efficiency. The results confirm these directions: a constant client base, slight increases in corporate lending, deposits and cards issued," said Catalin Parvu, CEO Piraeus Bank Romania. 

"The financial results achieved in 2014 outline a year of stability and also mark the next step towards increasing efficiency in the long-term,” he added.

The total loans granted by the bank last year amounted to 1.4 billion euro, marginally below the level recorded a year ago, yet, the new loans came to 300 million euro, up by 50 percent year-on-years.

Corporate loans continued to grow, their volume increasing by 21 percent, whereas retail loans remained on a downtrend.

Piraeus Bank also expanded the deposit base which totaled 1.1 billion euro, 8 percent more than in 2013.

At the end of 2014, the domestic subsidiary of the Greece-based bank group comprised a network of 130 branches nationwide serving over 300,000 clients.