Three in four banks in Romania were profitable in 2016

Almost three quarters of the banks in Romania, namely 27 out of 37, were profitable in 2016. They posted total profits of RON 4.7 billion (EUR 1.05 billion), according to Romania’s National Bank (BNR), reports local Ziarul Financiar. Meanwhile, ten banks had losses totaling RON 450 million (EUR 100 million). Thus, the local banking system got an overall net profit of RON 4.3 billion (EUR 957 million) in 2016, its second-best result since the start of the economic crisis. The situation was better than in 2015, when 22 banks made profits and 14 recorded losses. Banca Transilvania, BRD-SocGen, and UniCredit Bank reported the biggest profits in 2016. The three banks had net profits of RON 2.3 billion, over half of the total profits in the banking system. editor@romania-insider.com