Most profitable three banks in Romania made 74% of the total profits in H1
The top three most profitable banks in Romania in the first half of 2019 (H1) had cumulated net profits of RON 2.04 billion (EUR 434 million), representing 73.7% of the total net profit of the local banking sector in the same period,…
Romania Insider · Journalist
· Updated · 1 min read
The top three most profitable banks in Romania in the first half of 2019 (H1) had cumulated net profits of RON 2.04 billion (EUR 434 million), representing 73.7% of the total net profit of the local banking sector in the same period, Ziarul Financiar reported.
Local banks recorded total net profits of RON 2.76 billion (EUR 587 million) in the first half, down by 23% compared to the same period of 2018, according to Romania’s National Bank (BNR).
Banca Transilvania, which is the biggest local lender by assets, also recorded the highest profit in the first half - RON 848 million (EUR 180 mln), up by 28% over H1 2018.
BRD, the local subsidiary of French group Societe Generale, was second, with RON 803 mln (EUR 171 mln), up 4.7% year-on-year, and ING Bank Romania was third, with RON 385 mln (EUR 82 mln), up 12%.
Raiffeisen Bank Romania and UniCredit Bank completed the top five.
A total of 24 of the 34 lenders in Romania recorded profits in the first half while 10 had losses, including BCR, the local subsidiary of Austrian Erste Group and the second-biggest bank in Romania.
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