Top banks in first quarter. Bankersĺ wealth feels the economic pinch

Romanian lenders’ assets fell to 78.5 billion euros, down 0.56% from end-2008, following sharp devaluation of local currency. Expressed in lei, the banks’ assets climbed 5.66% in first quarter 2009, up to 332.46 billion lei.
Top three banks clawed 45.2% of the market with aggregate total asset of 35.5 billion euros, according to financial reports of the biggest players in the local banking landscape. In contrast, two years ago, top three financial institutions grabbed more than half of the market’s assets.

The ranking remained roughly the same, with BCR, BRD and Raiffeisen taking up the top three positions.

The country’s No. 1 bank, BCR, with a market share of 21.4% posted assets up 4.9% to 67.66 billion lei (16.82 billion euros) at the end of March 2009, from 64.5 billion lei (16 billion euros) at the end of 2008.

When expressed in euro, the lender’s assets dropped by nearly 820 millon euros.

As for BRD, the second biggest bank, the assets volume stood at 50.6 billion lei (11.9 billion euros) in the three months to March up slightly from 49 billion lei in prior-year quarter. Thus, BRD is currently occupying 15.1% of the banking system.

Raiffeisen Bank
(8.6% market share) reported assets up 3.4% from end-2008 to 6.78 billion euros and up 23.4% from year earlier.

Assets of fourth biggest player, Volksbank dropped 1% at the end of March to 5.3 billion euros, as Ziarul Financiar learnt, which can be translated into a 6.75% market share for the Austrian-based bank.

Banca Transilvania’s total assets rose 15% in January-March 2009 up to 19.57 billion lei (4.6 billion euros) from 17.01 billion lei a quarter earlier. After a tough first quarter, the bank posted a market share of 5.8%.

Banca Transilvania said despite an increase in total assets, the loan book did not follow a similar trend as the demand sank due to financial crisis and tighter lending standards.

As for Unicredit Tiriac Bank, the total assets soared to 18.5 billion lei (4.4 billion euros) at the end of March this year, up 34% from a year earlier. Its market share stood at 5.6%.

CEC Bank
has recently announced its financial results, but for the first four months: the lender boosted its total assets by 25.2% from a year earlier up to 17.09 billion lei (4.08 billion euros), as the bank granted new loans of 723 million lei in January-April 2009.

ING Bank
, who posted a quarterly profit equivalent to 2008’s annual profit, said its total assets stayed in the range of 11 billion lei (2.6 billion euros) after first three months same as a quarter earlier. Its market share hiked 3.3%, close to last year’s level and down from previous years: the bank ranked fourth in 2005, losing two positions, reaching a market share of 4.2%

Top banks by assets
Bank name Assets (bn euro) Market share
(Jan-Mar 2009)
1. BCR 16.8 21.4%
2. BRD 11.9 15.1%
3. Raiffeisen Bank 6.78 8.6%
4. Volksbank 5.3 6.75%
5. Banca Transilvania 4.6 5.8%
6. UniCredit Tiriac Bank 4.4 5.6%
Source: BNR, banks, Wall-Street, Ziarul Financiar

Citeste si:
Top 10 banks by market share
Top 10 banks by market share

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