“Banking system profit reached almost RON1.2 billion at the end of the first half. Solvency is higher, 18.07%, while the non-performing loan ratio fell to 13.04%,” Cinteza told ZF.
The half-year profit is six times higher than in the year-ago period, when it stood at about RON200 million. Romania’s banking system posted RON800 million profit in the first quarter of 2015.
The banking system remained profitable at a time when the country’s economy grew at a rate of 3.7% in the first half, which is the second highest gross domestic product growth rate in the EU.
Can the banking system remain profitable through the end of the year?
“It’s hard to say. There is still room for restructuring some portfolios,” says Cinteza, who has been in charge of the Supervision Department for about two decades and knows the banking system inside out.
(English version by Loredana Fratila-Cristescu)