Romania’s banks record 50% higher profits in the first half of this year

Romania’s banks recorded a cumulated net profit of approximately RON 4.2 billion (EUR 857 mln) in the first half of this year, up by more than 50% compared with the same period of last year.

Their assets rose to RON 585.9 billion (EUR 119 bln), boosted by the 7.7% increase in lending, according to preliminary data from Romania’s National Bank (BNR).

This was the best first half for local banks in recent years. In H1 2020, the local banking system recorded a net profit of RON 2.74 bln; in the first half of 2019, the net result was RON 2.77 bln, while in H1 2018, the gain was RON 3.56 bln, according to Ziarul Financiar.

So far, the local banks reported their highest annual profit in 2018 – RON 6.83 bln. In the first half of this year, the cumulated profits of the three largest banks in Romania - Banca Transilvania, BCR and BRD - totaled RON 2.18 bln, representing more than half of the total gain of the entire banking system.

(Photo: Sompong Sriphet/ Dreamstime)