Moldovan banking sector’s net profit in January-September 2022 reached 2.8 billion lei, up 71.6% (+1.2 billion lei), compared to the same period in 2021.
The National Bank of Moldova (NBM) reported this while assessing the financial situation in the banking sector for 9 months of this year. According to the NBM, the growth of profits in January-September 2022 was due to an increase in interest income - by 2.8 billion lei (77%), revenues from fees and commissions - by 366.7 million lei (+20.2%), income from exchange rate differences - by 355 million lei (+41.5%). At the same time non-interest expenses (fees, commissions, administrative expenses, reserves, depreciation of financial and non-financial assets, etc.) increased by 1.7 billion lei (+44.7%) and interest expenses increased by 645.7 million lei (+71.2%). The total revenues of banks for 9 months in 2022 amounted to approximately 10 billion lei, and increased, as compared to the same period of the previous year, by 3.6 billion lei (+55.4%). At the same time, in the structure of revenues the share of interest revenues was 64.5% (6.4 billion lei) and non-interest revenues - 35.5% (3.5 billion lei). At the same time, their total expenses in January-September 2022 amounted to 7.1 billion lei, increasing by 2.4 billion lei (+49.7%), compared to the same period in 2021. At the same time, interest expenses amounted to 1.6 billion lei (21.8% of the total), and non-interest expenses - 5.6 billion lei (78.2% of the total). According to the National Bank of Moldova, return on assets and return on equity capital in late September 2022 amounted to 3.1% and 18.1%, respectively, increasing by 1.1 p.p. and 5.8 p.p., respectively, compared to the situation at the end of 2021. // 05.12.2022 – InfoMarket
