After the three-month profits, local banking system goes back to loss

After a good first quarter, which brought profits to banks in Romania, the local banking system posted a cumulative loss of around EUR 49 million in the first five months of the year, according to data from the Romanian Central Bank (BNR). BNR has centralized data from the banks active in Romania showing a cumulative loss in the sector, although in the first three months of the year it had a profit of nearly EUR 25 million. The situation was fairly similar last year, when, despite a drop in lending, which reflected in the EUR 50 million loss in the first five months, the year was ended with a profit of EUR 200 million for banks active in Romania. Out of the 42 banks active in Romania, 22 posted a profit last year, while the situation was not so rosy for the rest.