Bank of Cyprus makes 5 million euro profit in first 6 months

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The subsidiary in Romania of the Bank of Cyprus made 5 million euro net profit in the first 6 months of 2009, 3.8 times more than in the similar time span last year, according to the information supplied by the Cypriot group that was quoted by Ziarul Financiar daily.

In the second quarter the bank made 3 million euros profit, up by 50 percent as against the first 3 months.

The balance of the loans granted by the Bank of Cyprus Romania was 567 million euros in late June, by 11 million euros less than in December 2008. Deposits increased by about 8 percent in the same time span, up to 93 million euros.

The Banks of Cyprus joined the Romanian market in 2007 and in mid-2009 it had a network of 10 subsidiaries, 6 more than in the same time span 2008.

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