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Romanian banking system - highly flexible, well capitalized, sees growth across the board (ARB)

Forbes
bank banca

The Romanian banking system is highly flexible, well capitalized and strongly anchored in economic activity, Radu Gratian Ghetea, chairman of the Libra Bank Board of Directors and honorary president of the Romanian Banking Association (ARB) told a specialist conference on Tuesday.

"After more than ten years since the 2008 crisis, we can say that the Romanian banking system has coped brilliantly with the challenges posed both by the economic or financial turmoil and the health crisis. This proves that we have a highly flexible, well capitalized banking system that is strongly anchored in the country's economic activity. Despite the pandemic year and the negative effect of the pandemic on the economy, the Romanian banking system has achieved growth across the board in the year June 2020 to June 2021. Assets increased by 13 percent, non-government loans advanced 11.2 percent, savings by 14.7 percent, the solvency indicator inched up 1.11 percent to 23.88 percent. We have no issues with non-performing loans, they were even down to 3.78 percent in June 2021 from 4.38 percent in June 2020. Only with such a high performance can we think about the banking system getting involved in the economy," Ghetea said.

Representatives of banking institutions, employers and industry associations participate on Tuesday in the second edition of the Banking Forum by Financial Intelligence.

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