The National Bank of Romania (BNR) posted a 1.12 billion lei profit in 2014, after reporting 1.258 billion lei losses in 2013, shows the annual report made available on the institution’s webpage.
The Central Bank reached 1.27 billion lei operational profit last year, compared with the 224.1 million lei losses seen the year before, due to an increase in operating revenues by 761.4 million lei and a cut in expenditures worth 732.7 million lei.
Moreover, the financial institution informs spending on unfavourable balances resulted from the recalculation of the active and passive assets in foreign exchange on December 31, 2014, amounted to 149.6 million lei, seven times below the December 31, 2013 figure (1.03 billion lei).
‘According to the law, 1,258,435 thousand lei posted in losses in the 2013 financial exercises were partially covered on January 1, 2014, from the statutory reserves (502,230 thousand lei), with the remaining 756,205 thousand lei being covered from the profit obtained in 2014,’ informs the BNR.
The financial institution specifies that the overall operating expenses of the BNR dropped in 2014 at a similar pace with the one in 2013 (-22.8 pct, in real terms), while functional expenses stood 8 pct below the planed level.
Moreover, the report between the functional expenditures and the total revenues dropped from 13.3 pct in 2013 down to 11.1 pct in 2014. Equity, meaning the net assets of the BNR, as recorded on December 31, 2014, maintained at a significant positive value (15.2 billion lei), by 25.8 per cent above the value recorded on December 31, 2013