BRD-SocGen employees last year generated an individual profit twice as high as that derived by the employees of BCR, Raiffeisen or Banca Transilvania. However, all four banks stand above the system average.
Despite BCR retaining the position of the biggest bank in the system, in terms of the value of owned assets, its employees in 2007 generated the smallest individual profit considering the net income reported in line with Romanian accounting standards.
Whereas a BRD-SocGen employee generated net income worth 38,678 euros, their colleagues at BCR registered just 14,991 euros.
Banks ranking 3rd and 4th in terms of total assets, namely Raiffeisen Bank and Banca Transilvania, had very similar results. However, Banca Transilvania employees last year generated net income worth 17,516 euros, above the one registered at Raiffeisen Bank, of 16,175 euros.
However, reported results are not entirely comparable, as for BCR, BRD-SocGen and Banca Transilvania did their reporting in line with Romanian accounting standards, while Raiffeisen reported data only in line with IFRS. Hence, there are significant differences in terms of indicators in the case of the four banks.
BCR is still by far the biggest player in terms of assets, with a total of 16.5bn euros last December. As the bank underwent a personnel-restructuring process, it also comes first in terms of assets per employee. BRD is catching up rapidly, with assets of 1.52m euros for each of its 7,104 employees, getting close to BCR level, of 1.68m euros/employee.
Raiffeisen had assets worth 755,448 euros for each of its 5,827 employees, while at Banca Transilvania each employee generated assets worth 658,514 euros. Raiffeisen's assets last year posted marginal growth, to 4.4bn euros as the bank outsourced a significant part of released financing to its majority shareholder.
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