Romanian banking system posts EUR 200 mln loss in third quarter

Romania's banking system posted a loss of around EUR 200 million in the third quarter of this year, according to banking sources quoted by Mediafax newswire. The cumulative loss of banks in Romania reached EUR 176 million at the end of September, up 62 percent on the same period of 2010. provisions continued to grow and exceeded EUR 6.9 billion, as the pile of non-performing loans continued to grow.

BCR, the largest lender in Romania, contributed with 10 percent of the total loss. BRD's nine-month profit was of EUR 90 million, down 19 percent on the same period of 2010. Banca Transilvania's profit was of EUR 25.3 million. UniCredit Tiriac Bank made a profit of EUR 36.4 million in the first nine months of the year. The banking system in Romania ended 2010 on loss, for the first time after 1999, registering a loss of some EUR 120 million. 20 banks made a profit last year, and 22 posted loss. editor@romania-insider.com