Moldovan banking sector’s net profit in January-September 2021 amounted to 1.65 billion lei, up 44.1% (+507.4 million lei) compared to the same period in 2020.
The National Bank of Moldova (NBM) announced this while assessing the financial situation in the banking sector for 9 months of this year. As noted by the NBM, the increase in profits in January-September 2021 was largely due to an increase in income from fees and commissions by 409.4 million lei (+ 29.2%) and interest income - by 405 million lei (+ 12.5%), as well as reversal of losses related to impairment of financial assets that are not assessed at fair value through profit or loss in the amount of 360.4 million lei (+ 90.3%). The total income of banks for 9 months in 2021 amounted to 6.4 billion lei, up by 782.6 million lei (+ 13.9%), compared to the same period of the previous year. At the same time, in the structure of income, the share of interest income amounted to 56.6% (3.6 billion lei), and non-interest income - 41.4% (2.8 billion lei). At the same time, their total expenditures in January-September 2021 amounted to 4.8 billion lei, having increased, against the same period in 2020, by 274.6 million lei (+ 6.1%). At the same time, interest expenses amounted to 907.3 million lei (19.1% of the total), and non-interest expenses - 3.9 billion lei (80.9%). According to the National Bank of Moldova, the return on assets and return on equity as of September 30, 2021 amounted to 2% and, accordingly, 12%, having increased by 0.5 percentage points and 3.2 percentage points, respectively, relative to the situation as of the end of 2020. // 01.12.2021 - InfoMarket
