Romanian Banking system net profit up to RON 1.4 bil in H1

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Romanian Banking system net profit up to RON 1.4 bil in H1

According to data released by National Bank of Romania (BNR), the net total profit registered within the banking system for the first six months of the year amounted to RON 1.401 bln, up by 13.92 per cent compared to the corresponding time period of 2006 and net assets advanced by 10.22 per cent, up to RON 190.49 bln.

The average profit in the banking system was RON 37.882 M in the first half of the year. Over Q1 there were 37 credit institutions in the Romanian market.

The net profit per employee amounted, after six months, to RON 23,000, whereas it amounted to RON 38,000 at the end of last year.

The provisions made by commercial banks amounted, at the end of the first half of the year, to almost RON 2 bln, which is almost double compared to mid last year and by 52 per cent over the level registered in December 2006.

Outstanding and doubtful loans advanced, over the first six months, by 81 per cent.

According to BNR data, the net outstanding and doubtful loans amounted to RON 400 M, by 50 per cent more than the level registered at mid 2006.

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