Which were the most profitable banks in Romania in 2016?
Romanian lender Banca Transilvania remained the most profitable bank in the local market last year, reports local Ziarul Financiar.
The bank, which managed to climb to the second position based on its assets last year, posted a net profit of RON 1.2 billion (EUR 263 million) in 2016.
It was followed by the group BCR, which includes the largest local lender, with a net profit of RON 1.04 billion (EUR 228 million). BRD-SocGen ranked third, with a net profit of RON 728.3 million (EUR 160 million), the best annual result after 2009.
ING Bank ranked fourth, with a net profit of RON 474 million (EUR 104 million) followed by Raiffeisen (EUR 100 million), and UniCredit (EUR 57 million).
The top 3 most profitable banks recorded a cumulative profit of RON 3 billion (EUR 660 million). This represented over two-thirds of the entire profit of the local banking system.
The net gain of all the local banks reached almost RON 4.3 billion (EUR 945 million) last year, the second-best result after the onset of the economic crisis.
editor@romania-insider.com
