BCR and BRD hit 65 percent of banking systems overall profit

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Net profit of the domestic banking system reached some 265 million euros January through March this year, with 65 percent of such revenues having been obtained by the leaders of the market: the Romanian Commercial Bank (BCR) and the Romanian Development Bank – Societe Generale (BRD – SocGen).
 
The number of the credit institutions has continued to grow slowly in 2007, having reached 42.
The newcomers have injected important amounts in trying to get a place on the market.
 
Although the financing conditions have become quite difficult in the latest interval, many banks continued to invest in extension. Thus, the Romanian overall banking network included 5,706 units in end-March 2008, with the number of the employees in the sector having climbed up to 67,250.
 
The growth in the net profit in the banking sector slowed down in March 2008.
 
The large banks on the market have managed to substantially increase their revenues from the interest margin, in the context they had liquidity reserves and they increased first the interests in loans and only then those in the deposits. BCR reported a spectacular increase in the profits in the first quarter of the year, of more than 80 percent.
 
In exchange, Millennium, newly entered in the system, recorded a loss of 6 million euros. OTP Bank too stayed on loss, although this is the 4th year on the market, Ziarul financiar daily reported.
 
The growth rate of the banking assets stayed relatively stable in February and March this year, at some 47 percent per year, with the total volume recorded in the first quarter having stood at more than 71 billion euros, in the context of the depreciation of the Romanian national currency leu.
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