Moldovan banking sector’s net profit in the first half of 2022 amounted to 1.6 billion lei, up by 80.4% (+726 million lei) as compared to the same period of 2021.
The National Bank of Moldova (NBM) reported this while assessing the financial situation in the banking sector for 6 months of this year. According to NBM, the increase of profits in January - June 2022 was due to the increase of interest revenues - by 1.4 billion lei (+60.9%) (mainly from lending activity), revenues from exchange rate differences - by 249.8 million lei (+47,9%) and revenues from fees and commissions - by 243.8 million lei (+21.1%). At the same time, non-interest expenses (fees, commissions, administrative expenses, reserves, depreciation of financial and non-financial assets, etc.) increased by 941.2 million lei (+36.7%) and interest expenses increased by 252.2 million lei (+42.1%). The total revenues of banks in H1 2022 amounted to 6 billion lei, up by 1.9 billion lei (+42.7%) as compared to the same period of the previous year. At the same time, in the structure of revenues the share of interest revenues was 62.4% (3.7 billion lei) and non-interest revenues - 37.6% (2.2 billion lei). At the same time, their total expenditures in January-June 2022 amounted to 4.4 billion lei, up by 1.2 billion lei (+37.7%) compared to the same period in 2021. At the same time, interest expenses amounted to 851.5 million lei (19.5% of the total), and non-interest expenses - 3.5 billion lei (80.5% of the total). According to the data of the National Bank of Moldova, the return on assets and the return on equity capital as of the end of June 2022 were 2.7% and 15.9%, respectively, having increased by 0.7 p.p. and 3.7 p.p., respectively, versus the end of 2021. // 09.09.2022 – InfoMarket
