Romanian banks' aggregate loss down to EUR 55mn in Q3.

By bne IntelliNews November 1, 2010
The Romanian bank's aggregated loss diminished to RON 240.5mn (EUR 55mn) from EUR 150mn in Q2, Ziarul Financiar daily reported quoting central bank governor Nicolae Cinteza speaking for Mediafax. The majority of the large banks generated profits in the quarter and reported aggregated net earnings of RON 1.3bn (EUR 306mn). The loss-making banks reported an aggregated negative financial result of RON 1.77bn (EUR 361mn), Cinteza added. The profits and losses are calculated according to the Romanian accounting standards, which include a larger share of the non-performing loans to the loss, than the IFRS envisage. The provisioning of bad loans and the associated costs remained the main problems in the sector, Cinteza said. For the ytd period, the banking system accumulated a RON 474mn (EUR 110mn) loss, against EUR 100mn profit in Q1 and EUR 155mn loss in Q2. The local banks reported an aggregated net profit of EUR 200mn in 2009.

Related Articles

Romania to spend EUR 37mn in 2013 to close down loss-making coal mines.

Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more

Romanias Hidroelectrica sells nearly 0.3TWh of electricity on free market.

Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more

Romania to start privatisation of cargo railway company on April 6-8.

The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss