The Ordinary General Assembly of Shareholders approved the completion of the Board of Directors
Today, July 16, 2004, The Ordinary and Extraordinary General Assembly of Banc Post Shareholders took place.
The Ordinary General Assembly of Shareholders approved the completion of the Board of Directors with the membership of Mr. George Michelis and Ms. Carmen Dumitrescu, as well as the appointment of the Chief Executive Officer of Banc Post (C.E.O.).
Mr. David Watson resigned from the position of Chief Executive Officer (C.E.O.) and will continue his activity as Advisor to the Management at EFG Eurobank Ergasias in matters regarding expansion in the Balkans and Director of the International Division and as member of the Board of Directors of Banc Post.
In this context, The Ordinary General Assembly of Shareholders approved the appointment of Mr. George Michelis as Chief Executive Officer (C.E.O), who will take over this position after obtaining all legal approvals. Mr. Michelis was member of the founding team and Executive Vice Chairman of Egnatia Bank Greece between 1990 and 1994. His experience in the banking sector also includes a vast 14-year activity at Commercial Bank of Greece, holding the position of General Manager and Vice President of the Board of Directors for the latest 8 years.
The position of Chairperson of the Board of Directors is held by Mrs. Elena Petculescu. Having outstanding financial knowledge and managerial skills, Elena Petculescu has contributed to the dynamic development of Banc Post, since its establishment in July 1991.
Banc Post ended the first semester of 2004 with a net profit of approximately ROL 464 bn (EUR 11 mn), 176% more than in the first semester of 2003. Bank’s assets amounted to more than ROL 31,000 bn (EUR 766 mn), representing a 49% increase compared to the same period in 2003. After the first six months of 2004, loans reached ROL 16,556 bn (EUR 408 mn), 117% higher that results recorded in the first semester of 2003. Deposits attracted by the bank recorded a 30% increase reaching approximately ROL 21,000 bn. At the end of June 2004, Banc Post managed more than 5.2 million accounts for approximately 2.8 million clients.