The central bank is bound by the law to transfer 80% of its net income to the state budget and last year transferred RON400.3 million, so a simple calculation shows its net income stood at about RON500 million.
“The net income transfers from BNR stood at RON400,310,106 in 2015,” Romania’s tax authority ANAF told ZF.
The central bank was a debtor to the banking system last year, which indicates there was enough liquidity on the market so as to allow banks to keep high amounts with it and not need loans. Absorption of excess liquidity was done via the deposit facility.
Unlike commercial banks, Romania’s central bank does not pursue maximizing profit, so it can take a loss if that means achieving its main goal of ensuring price stability.
The central bank posted RON1.1 billion net income in 2014, while commercial banks posted more than RON4 billion losses together due to the costs of cleaning up their non-performing loan problem.
It only posted losses once during the crisis, in 2013, while the system was in the red four years in a row. The 2014 income offset the 2013 losses, though.
Romania’s central bank’s best year was 2009, when its net income stood at RON4.6 billion.
(English version by Loredana Fratila-Cristescu)