Romanian banks had a profit of RON 209 million (over EUR 47 million) in June, down from RON 703 million (EUR 159 million) the month before, as banks continued to clean their portfolios. The provisions were also reduced by over EUR 476 million.

According to data from the central bank BNR, the provisions started dropping in May, when a first decrease was seen. As a result, the banking system’s profit decreased in May by EUR 10.7 million, to EUR 159 million. In June, provisions continued to drop and the profit declined to EUR 47.9 million.

Irina Popescu, irina.popescu@romania-insider.com