NBG, majority holder in Romanian lender Banca Romaneasca said local earnings before provisioning stood at EUR18 million, down 47% from EUR34 million in the first half of 2010.
The lender said operating costs on the Romanian market decreased 6% on the year to EUR34 million in the first six months.
Net revenues from fees and other taxes fell 55% to EUR7 million in January to June, whereas revenues from interests were down 17% on the year to EUR45 million.
The lender booked provisions in Romania worth EUR22 million in the first half, up from EUR20 million in the same months of 2010.
Overall loans provided on the local market stood at EUR2.25 billion end June, down 1% on the year. NBG said non-performing loans amounted to 9.5% of the total loans, up from 7.8% at the end of 2010.
Worldwide, NBG reported a loss of EUR1.31 billion in the first half, compared with profit of EUR146 million in the same period a year earlier. The group’s results were severely hit by write-downs of around EUR1.4 billion after tax in the value of Greek Government bonds held by the Bank.
NBG owns 89.07% in Banca Romaneasca. The group also has indirect control of Romanian insurer Garanta and operates three other companies on the local market, namely NBG Leasing IFN, NBG Securities Romania and NBG Factoring Romania.