In the first quarter last year, the local lenders posted a combined net profit of RON373 million. The 2011 profit was calculated under Romanian accounting laws, while the 2012 results under IFRS standards.
Loan-loss provisions stood at RON23.85 billion at the end of March, up by roughly RON1.5 billion from January, when the first IFRS data have been centralized.
Average solvency ratio reached 14.46% at the end of March, above the central bank’s minimum requirement of 8%. (EUR1=RON4.4373)