Top 10 largest banks in Romania

The ranking of the nation’s largest banks in Romania by assets underwent major changes in 2008: only BCR and BRD remained on the same positions, while Volksbank and Alpha Bank joined the top league straight to 3rd spot and 5th respectively, while Raiffeisen slipped one position, according to NBR.

Therefore, the aggregated market share of the five largest banks eroded by 1.2 pc, from 56.4% to 54.3%.

ING Bank is ranked tenth. The bank has increased its market share from 3.3% to 3.5% in 2008. The bank’s total assets stand at 10.9 billion lei (2.73 bln euros). ING Bank reported a 66% increase in gross profit last year, to 109 million lei (29 million euros), as the bank’s total assets reached 11.09 bln lei at the end of last year, up 36% from end-2007.

ING Bank Romania reported a 55% growth in net revenues for last year from prior year, up to 537 mln lei.

CEC Bank takes up the ninth position, with 4.3% market share and total assets of 13.53 bn lei (3.39 bn euros).

CEC Bank posted a net profit of 366 mln lei in 2008 (nearly 100 million euros).

Another bank that lost ground last year, now standing in the eighth position is Bancpost, with a market share of 4%.

EFG Eurobank, majority shareholder of Bancpost said its net profit for Romanian operations slumped 6% in 2008, up to 27.3 million euros.

Bancpost managed to increase share in the banking system in 2007, after its total assets skyrocketed 72%, to 13.25 bln lei, grabbing a market share of 5.3%. By contrast, a year earlier, Bancpost had recorded total assets of 7.7 billion lei.

Bancpost is the sole bank in top ten reporting loss in first quarter 2009. The Greek-based EFG Eurobank posted a net loss of 4.1 million euros, largely driven by its operations in Romania.

In 2008, Banca Transilvania fell three positions, down to seventh, with a 5.4% market share and total assets under management of 17.01 billion lei (4.27 bln euros).

Banca Transilvania posted for last year a net profit of 398.23 million lei (108.21 million euros), up 17% from a year earlier, 56% of the gain stemming from the sale of its equity position in Asiban.

UniCredit Tiriac Bank, holding the same market share of 5.5% as Alpha Bank, but total assets lower (67.9 million lei) keeps the sixth position in the ranking of the banking system in Romania.

UniCredit Tiriac Bank said its net profit climbed 37% in 2008, up to 358.3 million lei (97.29 million euros), from a year earlier, as in the same interval, the total assets under the bank’s management edged up at roughly the same pace, 36%.

Alpha Bank took up the fifth spot, with a market share of 5.5% of the local banking industry, based on last year’s results.

Alpha Bank Romania posted 20.8% increase in pre-tax profit, up to 45.8 million euros, as the bank set aside 33.2 million euros in the form of credit risk provisions.

Raiffeisen Bank slipped to fourth, with a market share of 6%.

In the previous annual ranking, Raiffeisen was standing on third position, with 6.3% market share.

At the end of 2006, Raiffeisen’s total assets amounted to 13.82 bln euros, and the market share was 8.03%.

Volksbank climbs to third position, with a market share of 6.8%.

Volksbank Romania posted a pre-tax profit up by a staggering 54% YoY, up to 37.8 million euros, as the bank’s total assets rose at a similar pace. A year earlier, the bank’s pre-tax profit was 24.5 mln euros.

BRD-Groupe Societe Generale remained the second largest bank in Romania by assets according to 2008 results, slightly increasing its market share by 0.2% to 15.7%.

BRD’s market share fell last year to 15.5%from 16.28% in 2006.

BCR keeps its leading position similarly, even though the market share by net assets dropped 3.5% to 20.3%. The downward trend of BCR’s share in the market continued from 2007 when it fell from 26.18% to 23.8%.

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