Home / BUSINESS / FINANCIAL / BANKS / BNR’s operational profit – RON 1.27 bn in 2014

BNR’s operational profit – RON 1.27 bn in 2014

The National Bank of Romania has recorded in 2014 operational profit of RON 1.27 billion, following an operational loss of RON 224.1 million in 2013, says the annual report of the central bank. “A significant contribution to the operating result came from the administration activity of assets and liabilities in foreign currency, which generated a gain of RON 1.84 billion (compared to RON 330.9 million in 2013,” reads the document, quoted by hotnews.ro.
RON 292.5 million were paid to the state budget, accounting for 80 percent of the share of the bank’s net incomes and of the remaining amount, a percentage of 60 percent (RON 43 million) has been allocated to increase the statutory reserves. The remaining amount of RON 28.7 million is to be distributed in 2015 according to art 43 of Law no 312/2004 on the National Bank of Romania’s statute.
Thus, in 2014 the BNR’s total operating expenses (total expenses excluding expenses for revaluation losses) have decreased at a pace similar to that of 2013 (-22.8 per cent in real terms), while the operational expenditures were of about 8% below the budgeted level. Also, the ratio between expenditures and revenues declined from 13.3% in 2013 to 11.1% in 2014.

About Victor Lupu