Net profit of the banking sector of Moldova in H1 2021 amounted to 941.7 million lei, up 34% (+238.9 million lei) year on year.
The National Bank of Moldova (NBM) announced this while assessing the financial situation in the banking sector for 6 months of this year. As noted by the NBM, the increase in profits in January-June 2021 was largely due to an increase in non-interest income by 15.4% (+232.9 million lei), mainly due to an increase in income from fees and commissions. At the same time, interest income increased by 8.5% (+181.6 million lei). Interest expenses decreased by 13.9% (-96.9 million lei) as a result of a decrease in the average rate on deposits in national currency from 4.39% as of June 30, 2020 to 3.7% as of June 30, 2021, and, accordingly, on deposits in foreign currency - from 0.88% to 0.56%. Non-interest expenses increased by 12.1% (+272.6 million lei), mainly as a result of an increase in administrative expenses. The total income of banks in H1 2021 amounted to 4.1 billion lei, having increased, versus the same period of the previous year, by 414.6 million lei (+ 11.3%). At the same time, in the structure of income, the share of interest income amounted to 57.1% (2.3 billion lei), and non-interest income - 42.9% (1.7 billion lei). At the same time, their total expenditures in January-June 2021 amounted to 3.1 billion lei, having increased, compared to the same period in 2020, by 175.7 million lei (+ 6%). At the same time, interest expenses amounted to 599.3 million lei (19.2% of the total), and non-interest expenses - 2.5 billion lei (80.8% of the total). According to the National Bank of Moldova, the return on assets and return on equity as of June 30, 2021 amounted to 1.7% and, accordingly, 10.2%, having increased by 0.2 percentage points and 1.5 percentage points, respectively, versus the situation as of the end of 2020. // 07.09.2021 - InfoMarket
