The Romanian Central Bank (BNR) recorded a profit in 2010, for the fourth year in a row, reaching EUR 336 million (RON 1,415 million), which was however 69 percent lower compared to last year, according to the institution. The profit decrease was triggered by the Central Bank's position of net debtor for the banking system during most of 2010.

“According to Law no. 312/2004 on the National Bank of Romania, the profit in 2010 was distributed as follows: 80 percent was transferred to the state budget, EUR 33.61 million (RON 141.5 million) were intended to increase the statutory reserves, EUR 20.16 million (RON 84.9 million) were used for establishing own sources of funding, EUR 6.72 million (RON 28.3 million) were used to fund employee participation in profits, and EUR 6.72 million (RON 28.3 million) for reserves to the Administration Board”, according to BNR.

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