The 2009 recession not only meant 20 banks out of a total of 42slipped into the red, but also that top profit makers includedplayers with a less than 3% market share in terms of assets, aswell as an opportunity for some credit institutions to boost theirearnings.
BRD, the second-largest bank on the market in terms of assets,recorded the biggest net profit according to Romanian accountingstandards (RAS), significantly ahead of the rest of its competitorswith a 792 million-RON (187 million-euro) income, albeit more than40% lower than in 2008.
The second-highest profit was recorded by Raiffeisen Bank, 288.5million RON, significantly behind no. 1. Raiffeisen was no. 2 interms of profit despite having dropped to no. 7 on the assetsranking.
BCR, leader of the market by assets, ranked third, with 237.9million RON (around 56 million euros), amid a 78% decline in netincome generated by the cost of loan-loss provisions. Close behindin fourth place is UniCredit Tiriac Bank, with almost 236 millionRON.
Whilst BRD, Raiffeisen, BCR, and UniCredit also feature in thetop 10 in terms of assets, in the profit ranking the no.5 positionis filled by state-held Eximbank, with 145 million RON, which hasan only 1% market share in terms of assets.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
