Banks in Romania recorded a cumulative net profit of EUR 531 million in the first six months of the year, according to Raiffeisen Bank estimates.

The overall non-performing loan rate dropped from 16.2% in June 2015 to 11.3% in mid-2016, reports local Profit.ro.

The banks in Romania saw a profit of EUR 269 million between April and June this year. The results during this period were affected by provisions banks made related to the giving-in-payment law which stirred the lenders’ discontent, according to analysts of Raiffeisen Bank.

The assets of Romanian banks amounted to EUR 84.1 billion at the end of June, up 2.7% compared to the end of March and by 4.5% over June 2015.

editor@romania-insider.com