BCR ranked fourth among primary dealers at the end of last year.

BCR posted 305 million lei (EUR67.4 million) net profit in the first half, 50% less than in the year-ago period.

Government paper transactions have fueled the banks’ profits in the past few years more than their core business, that is lending.

Primary dealers are those companies that submit bids in government paper auctions for themselves and on behalf of their clients, local or foreign investors.

ING Bank, the leader after the first half dropped to second place in August, while UniCredit ranked third.

Banca Transilvania, which had taken the top spot in the primary dealer ranking in 2015 and dropped to third in late 2016, ended the first eight months on the fourth place.

Greek-held Bancpost now subject to sale talks ranked fifth, while BRD-SocGen, the third largest bank in Romania by assets ranked sixth.

US-held Citi dropped to seventh, followed by Raiffeisen Bank.

(English version by Loredana Fratila-Cristescu)