Romania's banking system to record over EUR 450 mln loss in 2014

The banking system in Romania has recorded a EUR 361 million loss in the first nine months of the year and the loss will easily exceed EUR 450 million for the whole year, said Nicolae Cinteza, director of the Supervision Department with the National Bank of Romania (BNR). "Given the high provisions recorded, the system had a EUR 361 million loss on September 30, 2014. The massive provisions recorded in the third quarter have led to this loss. When the EUR 452 million figure was mentioned, we didn't have the financial audit. I think the loss will easily exceed EUR 452 million for the whole year," said Cinteza, cited by local Agerpres. Non-performing loans decreased from 22.3% to 15.33% between April and September 2014 and their provisioning coverage ratio is of 66%, Cinteza added. editor@romania-insider.com