Romanian Banks Swing To 1Q Combined Net Profit Vs Year-Ago Loss

The first-quarter result amounted to half of the banks’ combined net profit for the whole of 2009.

„The profit (…) shows that banking activity is picking up. Provisions are still rising, but the operating profit was well above the financial loss,” said Nicolae Cinteza, head of the central bank’s supervisory division.

„Lending is recovering and activity in several sectors has been resumed,” Cinteza told MEDIAFAX reporters.