Profit of over EUR 500 M for Romanian banking system in H1

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Banks operating on the Romanian market recorded in the first half of this year, a profit of EUR 531 million, Raiffeisen Bank report shows on Monday, using National Bank of Romania (BNR) data.

The NPL ratio, one of the main burdens for Romanian banks after the financial crisis, fell to 11.3 percent in H1 from 16.2 percent in June 2015.

In the Q2, banks in Romania recorded a profit of RON 1.2 billion, equivalent to EUR 269 million, according to Raiffeisen.

“The result of the second quarter was negatively affected by the provisions made by banks following the entry into force of Debt Discharge Law in May, but was supported by the earnings recorded in banks’ balance sheets after Visa Europe acquisition by Visa,” the report reads.

According to BNR, Romanian banks’ assets reached to RON 380.1 billion (EUR 84.1 billion) in the first half of this year, up by 2.7 percent compared to end-March and by 4.6 percent compared to June 2015.

36 banks were active on Romanian banking market in H1, of which seven are branches of some foreign banks.

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