Romania central bank’s net profit up 50 pct in 2017 to RON 186.7 million

Sorin Melenciuc 29/06/2018 | 12:46

The National Bank of Romania (BNR) posted a net profit of RON 186.7 million (EUR 41 million) last year, up 50 percent from 2016, on larger revenue from asset management, central bank governor Mugur Isarescu said on Friday in a press conference.

In 2016, BNR registered a net profit of RON 124.6 million.

Romania’s central bank posted losses of RON 28.5 million from monetary policy, down 47 percent from 2016, of RON 419.4 million from other operations, mainly operating spending, and larger income from assets and passives management, of RON 1.44 billion (+11 percent).

BNR profit
BNR posted a 50 percent increase of its net profit

BNR manages Romania’s foreign exchange reserve, of EUR 33.1 billion on May 31, 2018, and the gold reserves, of 103.7 tonnes, out of which more than 60 percent are deposited at the Bank of England.

“The gold deposited at the Bank of England is our gold all the time, there are reputational advantages to keep it there,” Isarescu said.

According tothe law, 80 percent of BNR’s net profit goest to the state budget.

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