Increase in reserves drives MKB Romexterra Bank into the red - Azi

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MKB Romexterra, the local branch of the German Bayern LB group, posted losses worth 27.3m RON (7.4m euros) in the first half of the year, following a significant increase in reserves made.

In June 2007, the bank had posted a 12m RON (3.6m euros) profit.The bank derived an operating income worth 11.6m RON in the first six months. The losses were caused by the significant increase in reserves, especially against the loans granted to individual clients and small and medium-sized enterprises, which...

Read the whole story in: Ziarul Financiar