Assets climbed to a peak of almost RON738 billion, amid a slowed down average growth pace of lending, of around 9% year-on-year, in line with central bank preliminary data.
This was the best first half in recent years for banks, after in 1H/2022 the preliminary gain revolved around RON4.8 billion, in 1H/2021 had reached RON4.2 billion and in 1H/2020 banks’ profit stood at just RON2.8 billion, close to the 1H/2019 level.
Looking at the evolution of banks’ gains during the first half of this year, we can see that in 1Q/2023 profit amounted to RON3.4 billion and by mid-year banks had managed to double their gain.
Should the 1H pace continue, high interest rates and lending revival can drive banks’ profit to a new record high at end-2023, of around RON14 billion, after the over RON10 billion high of 2022.
(English version by Catalina Apostoiu)