The Romanian Bank (Banca Romaneasca) announced in a press release today it had registered a RON 13 mln. (3.6 mln. euro) net profit in 2005, down 40% compared to data registered by December 2004 when its profit rose to RON 22.37 million.

The bank expanded its assets by over 177% to 615.7 million euro in 2005. It has recently increased its social capital by RON 244.95 million to 400.26 million. It says its market share improved from 0.98% in 2004 to 1.9% by October 2005.

"Our results are the results of the strategy we have implemented at the level of retail and corporate activities (…)We know the needs of our clients and have to offer them the services they need", says Andreas Maragkoudakis, general manager at the Romanian Bank.

The Bank is owned 87.14% by the National Bank of Greece, one of the most important financial groups in Greece.