Romanian banks posted a RON 3.6 billion (approximately EUR 810 million) loss over the first 11 months of last year by removing non-performing loans from balance sheets, according to data from Romania’s central bank.
‘The effort to remove non-performing loans from balance sheets has led to negative values of the banking system’s profitability. The results are negative. Banks are posting losses,” said Mugur Isarescu, the central bank’s governor, on Friday, according to Agerpres newswire. Should the situation continue for another “two, three years” some banks could close their local branches, suggested the governor, according to the same source.
Simona Bazavan
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