The bank reported a net profit of EUR6.16 million in July, calculated under IFRS, Cojocaru told MEDIAFAX. However, when calculated under Romanian standards, Volksbank posted a loss at the end of July, he added.
Volksbank’s total assets were EUR4.8 billion after the first seven months of 2011.
Founded in 2000, Volksbank Romania is majority owned by Volksbank International, the eastern European arm of Osterreichische Volksbanken.
In July, Volksbank announced it has reached an agreement with Russian Sberbank to sell its eastern European business, excepting the subsidiary in Romania.