EnglishThe cumulated financial results of the Romanian banking system indicate a loss of over 200 million lei, at the first five months of 2010, according to data from the NBR, a situation which is a cause for extreme concern, claims the advisor to the governor of the NBR, Lucian Croitoru.
"This is a cause for concern over the health of the banks. The circumstances for an economic recovery and for growing the confidence of the population in the system are not favorable", Mr. Croitoru said.
According to data compiled by the NBR, at the end of May, the banking system had a loss of 204 million lei (nearly 49 million Euros), similar to last year"s similar period, when the loss amounted to 228 million lei.
The loss is all the more surprising, as after the first quarter, the banks had a combined profit of 100 million Euros, half of the profit for the entire year of 2009, compared to a loss of approximately 50 million Euros in Q1 2009.
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