BANKSFINANCIALNEWS

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

By Anca Bernovici
11

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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Anca Bernovici

Anca Bernovici

I started my way in life with the intention to pursue a teaching career. But, after graduating from the Faculty of Letters – the University of Bucharest in 2004, my first job as a reporter at one of the leading newspapers in Romania changed my perspective. I have specialized in communication and communication campaigns, following the Master's courses at the Faculty of Journalism and Communication Studies (FJSC), attending a BBC Communications scholarship.
I’ve represented several important publications in Romania as business journalist, being accredited in the finance and banking field. In 2015, I had the opportunity to interview the International Monetary Fund (IMF) Mission Chief for Romania, Andrea Schaechter. As business journalist, I also had the opportunity to interview ministers for Economics and Commercial
Affairs offices within different embassies in Romania or officials of large companies investing on the domestic market.
After almost 15 years of journalism, I still want to explore new ways, to inform and stay updated. That’s why The Romania Journal project fits me so well.
Today I describe myself as a passionate about the history of world culture, having a PhD in Hebrew Culture and Civilization, after a scholarship at the University of Haifa International School, as a language addict, an environmental activist, pet lover and traveler.

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