BUSINESS

Emporiki Bank Romania injected EUR 140 M in the last two years

Emporiki Bank Romania succeeded to improve significantly its commercial and financial outcome as 2011 figures shows, declared yesterday in a press conference Pierre Martin, CEO of Emporiki Bank Romania, Group Crédit Agricole. The bank’s losses were reduced with 62 per cent (EUR -5.1 M) compared with 2010 (EUR-13.5 M). “With a high impairment level, Emporiki Bank Romania records one of the best Doubtful Coverage Ratio in the market, 79 per cent at the end of 2011. The Share Capital increase of EUR 40 M in the last two years and the cost of risk were reduced by 78 per cent. Also, in the last two years the bank sustained the real growth of the Romanian economy, through lending activity, injecting EUR 140 M into the new loan production” Martin added. “We don’t forget this year will be a very tough one and we see a maximum 1-1,5 per cent increase for our bank” said Pierre Martin.Starting this year Emporiki Bank Romania will have a new communication strategy focused on our membership to the French Group Crédit Agricole. “Jean-Jacques will be the image of our brand. His personality and adventures will represent our brand in our next communication campaigns” declared Benoit Sarraute, Deputy General Manager of Emporiki Bank Romania, Group Crédit Agricole. “For the moment, we don’t want to change our name, first of all because it is a very expensive movement”, added Martin.

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