Romanian banking system loses 1,400 employees, makes EUR 37 mln profit in first quarter

Over 1,400 employees left the Romanian banking system in the first three months of this year, leaving only 64,300 employees in the system. This was the steepest decline rate quarter on quarter since the beginning of the crisis. Over 2,300 people have left the local banking system in the last 12 months.

In total, over 7,200 employees have left Romanian banks since 2008, the beginning of the crisis. Average gross salaries in the banking system were between RON 4,600 and RON 5,300 in the first quarter of this year – between EUR 1,057 and EUR 1,218. The net average salary was between RON 3,294 and RON 3,830 – or the equivalent of EUR 757 and EUR 880. The whole system ended the first quarter with a profit of EUR 37 million calculated based on IFRS standards, down to half the profit in the first quarter of 2011, when it was calculated based on the local accounting system RAS. The 41 banks in the local banking system paid some EUR 230 million in salaries in the first quarter of the year, out of which EUR 62 million went to the state budget. The banks now have over 5,900 branches in Romania, down 75 units compared to the end of 2011. editor@romania-insider.com