Cinteza (BNR): Banking system in Romania will end 2014 with over 2 billion lei loss

The banking system in Romania registered a 1.6 billion lei loss after the first nine months of this year and overall in 2014 the loss will easily exceed two billion lei, National Bank of Romania (BNR) Supervision Department Director Nicolae Cinteza said on Saturday in the seminar EU-COFILE, organised by BNR, the Romanian Banking Association (ARB) and Alpha Bank.

"On the ground of the high provisions registered, and many will follow, on September 30, 2014, the system recorded a 1.6 billion lei loss. It was natural! The massive provisions registered in the third quarter led to this loss. When the amount of two billion lei was mentioned, we did not have the audited figures. I believe the loss will easily exceed two billion lei overall in 2014," Cinteza explained.

He also pointed out that the loan level went down from April to September, from 22.3 per cent to 15.33 per cent, and the provision cover level of non-performing loans stands at 66.22 per cent. AGERPRES