Banks continue downsizing in Romania

Banks in Romania continued to close down units and to fire employees in the last year and a half, according to data from the Romanian Central Bank (BNR), quoted by Econimica.net. Banks shed off their networks 229 units in 2013 and 142 units in the first half of 2014. Meanwhile, the number of employees was down by 3,100 in 2013, and by 603 in the first half of this year. Overall, over 15,000 staff in the banking sector have been laid off since 2008. By number of bank outlets per 100,000 inhabitants, Romania continues to be below the European average, according to the BNR report. The Central Bank believes qualified bank employees are needed to analyze companies and grant loans, as bank substantially decreased exposures. Only six Romanian banks in top 50 largest banks in CEE Romanian banks’ profit down to EUR 47 mln in the first half editor@romania-insider.com