The profit of the three largest local banks by assets, BCR, Banca Transilvania and BRD-SocGen stood at 3.2 billion lei (EUR686 million) and accounted for more than half of the profit of the entire banking system.
Banca Transilvania was the most profitable in 2016, followed by BCR and BRD. Fourth by profit in 2017 came ING Bank, while Raiffeisen and UniCredit were fifth and sixth, the same as in 2016.
BRD-SocGen, the third largest lender in Romania posted the highest profit in the Romanian banking system in 2017, RON1.38 billion, a record high for this bank.
Banca Transilvania had its second year with more than RON1 billion profit in 2017, posting RON1.19 billion net profit last year.
The BCR group, which includes the largest local lender, posted RON668 million net profit, almost 36% lower than in 2016.
ING posted the fourth highest profit, RON493 million, up 4% on 2016, as a result of an increase in its lending business.
Raiffeisen Bank came fifth in the profit ranking, close to the fourth leading lender, ending the year with RON491 million profit, 9% higher than in 2016, while its lending business increased by a higher rate than the market average, that is 8%.
Romania’s banking system posted record profit of RON5.4 billion in 2017. (EUR1=RON4.6650)
(English version by Loredana fratila-Cristescu)