Assets of Volksbank Romania down by 7.7% y/y to EUR 4.8mn.

By bne IntelliNews November 30, 2010
The assets of Volksbank Romania decreased by 7.7% to EUR 4.8bn as at end-September, Ziarul Financiar reported quoting a statement of the Austrian parent bank. The bank's assets stood at EUR 5.2bn as at end-June and EUR 5.3bn as at end-March. Volksbank International reported, however, that its exposure on the Romanian market remains the most important followed by its operations in the Czech Republic (EUR 2bn) and Hungary (EUR 1.9bn). The bank did not provide further comments about the financial results of Volksbank Romania. The local Volksbank subsidiary reported in March an alarming rate of bad loans at 21.6%, the highest in the local banking system.

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