Proton Bank Reports Profits of 20,5m for the First Half of 2006
Proton Bank reported a substantial increase in profits for the first half of 2006 both at the Group and the Bank level.
More specifically, consolidated gross operating income for the Group during the period January 1st to June 30th 2006 amounted to 33,25 million, euro versus 12,51 million euro for the first half of 2005, profit before tax was 22,8 euro versus 4,17 million euro for 2005 whereas net income for the Group reached 20,5 million euro versus 3,63 million euro in 2005 for the same period.
During the first half of 2006, gross operating income for the Bank was 26,77 million euro versus 8,54 million euro in the first half of 2005, profit before tax reached 21,65 million euro versus 4,39 million euro in 2005, and net income stood at 19,58 million euro versus 4,35 million euro in 2005 for the same period.
Merger procedures with Omega Bank are progressing smoothly and completion is expected to take place according to the timetable by September end 2006. The new entity which will be created after the merger will have a capital base of approximately 300 million euro, total assets exceeding 1,5 billion euro, advances of 900 million euro and a deposit base of 1,1 billion euro.
The new group will focus on a wide range of commercial and investment banking services through a network which will number 25 branches by the end of 2006. In addition it will continue its expansion plans through its affiliates in Asset Management and Alternative Asset Investments.