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January 16, 2021

Banking system registers RON 800 M profit in Q1

The banking system registered an overall profit of RON 800 M at the end of Q1 and the result remained in positive territory in April too, Nicolae Cinteza, head of the National Bank of Romania’s (BNR) Supervisory Directorate, stated for ‘ZF’ daily.

“The banking system is stable, maybe with a solvency that is much too high. The solvency rate has reached 18.6 per cent. It’s time for the banks to start taking risks, otherwise they will decapitalize themselves. It would be time for the banks to turn crediting on.”

Total crediting remained in negative territory in the first quarter. The balance of consumer and corporate loans stood at RON 210 bln (EUR 47 bln) at the end of March, down by 3 per cent year-on-year.

The top three banks alone – BCR, BRD and Banca Transilvania – obtained total net profits of RON 630 M (EUR 140 M) in Q1, four times the level registered in the same period last year. However, there still are banks that register losses because of provisions or the collapse in revenues.



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