The cumulated profits of the top three banking groups in the country – BCR, BRD-SocGen and Banca Transilvania, stood at RON793.1 million in the first quarter, accounting for more than two thirds of the total profit of the banking system.
Both return on assets (ROA) and return on equity (ROE) in the banking system were in positive territory in the first quarter, 1.26% and 11.98%. Considering the ROA and ROE, a simple calculation reveals profit stood at about RON1.24 billion for the entire system in the first quarter of 2017, up about 6% compared with the year-ago period.
While the profit of the entire system amounted to some RON609 million at the end of February, by the end of the March, lenders doubled it to more than RON1.2 billion. If the profits remain comparable to the first quarter profit over the rest of the year, 2017 might be a record year for bank profits. Last year’s overall net profit reached almost RON4.3 billion, the second highest after the onset of the crisis. (EUR1=RON4.5583)
(English version by Loredana Fratila-Cristescu)