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One billion-euro profit for banks in nine months

According to the data submitted by the National Bank of Romania (BNR), the profit of the 40 local banks reached 1 billion euros in the first nine months.The two most important banks on the market, Romanian Commercial Bank (BCR) and the Romanian Bank for Development (BRD) posted earnings accounting for some 62 percent of the 1 billion-euros profit achieved in that period by all players on the banking market.

The assets held by BCR and BRD, controlled by financial groups headquartered in Austria (Erste) and France (Groupe Societe Generale), account for a third of the total assets, reaching 79.6 billion euros end-September, BNR reported.

In the third quarter, Romanian banks doubled the net profit gained in Q1, amounting to 520 million euros, as four players - BCR, BRD, Banca Transilvania and the Romanian Savings Bank (CEC) received in August the payment due to the sale of the Asiban insurance company, reaching 350 million euros, to the French Groupama.

The growth of the banks' profit might amount to 100 percent this year, compared to the 825 million-euros net profit last year, as the leader in the Romanian banking system in terms of assets, BCR, is waiting to receive the payment for the sale of BCR Insurance and BCR Life Insurance divisions. The assets of the banking system reached 297.225 billion lei (79.6 billion euros) at the end of September, up by 4 percent compared to the previous month and by 39.5 percent vs. September 2007.

Raiffesien Bank Romania, the third-rated player at midyear, in terms of assets, in the local banking system, owned after the first three quarters, assets amounting to 6.4 billion euros, up by 15.1 percent against the end of last year.Banca Transilvania, rated fourth, in 2007, in terms of assets, ended the first nine months with a net profit of 109 billion euros, triple than in the similar period in 2007, due also to the sale of its Asiban shares. The bank's assets rose in September to 4.41 billion euros, some 18.69 percent more than at the end of 2007.

On the contrary, the Commercial Bank Carpatica, the bank institution with Romanian shares with a one-percent market share, on the Romanian banking market, in 2007, reported assets amounting to 2.26 billion lei (605.6 million euros) after the first nine months and a net profit of 1.48 million lei (407 thousand euros), down by 81.2 percent than in the similar period last year, the bank's data showed. The bank's assets dropped by 1.21 percent against the end of last year.

The solvability of the 40 banks active on the Romanian banking market decreased in H1 of 2008 by one percentage point, to 12.78 percent in the wake of the aggressive politics conducted by some banks, targeting the market share.

 

Sursa: http://www.actmedia.ro

Tags: euros billion bcr percent banking million assets romanian market profit months banks cec euro brd bnr

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