Once the publication of UniCredit Tiriac Bank’s financial report, the picture of top ten banks in Romania by profit is completed, slightly influenced by the sale of Asiban to which four banks – CEC, BCR, BRD-SocGen and Banca Transilvania – were holding participation.
BCR –1st position
BCR and BRD-SocGen remain the leaders of the Romanian banking landscape by net profits reported for last year.
The sale of participations in Asiban, Italo-Romena Bank and the insurance activities drove the profit after tax and payment of minority interests of the group to 2.03 bln lei (541 mln euros) in 2008 and excluding these revenues, the after tax profit stood at 1.3 bln lei.
“The performance at the level of activities has improved significantly, as a result of the program of development and integration into Erste Group. Now, BCR has thus a very positive situation that enables is to respond appropriately to challenges stemming from the crippled operational climate”, said the CEO of BCR, Dominic Bruynseels (photo).
BRD – 2nd position
BRD SocGen, the second largest bank in Romania by assets reported 1.353 bln lei profit for last year, up by roughly 48% from a year earlier. Counting down the incomes from the sale of Asiban, the increase of profit stood at 23%.
BRD-SocGen’s chairman, Patrick Gelin said the bank would continue to return profit in 2009. Yet, he didn’t state any projection for this year’s profit.
BRD’s operating profit was 1.841 bln lei in 2008, 31% up from a year earlier.
Raiffeisen Bank – 3rd position
Raiffeisen Bank reported after-tax profit of 165 mln euro for last year, 75.6% more than 2007, when the bank had posted 94 mln euro, data based on International Accounting Standards, audited, unconsolidated.
Profit before-tax was 196 mln euro versus 116 mln euros a year earlier.
Total assets hiked to 4.65 b
