The net profit of Moldova’s banking sector in the first quarter of 2023 amounted to 1.3 billion lei, up 67.3% (+538.5 million lei) compared to the same period of 2022.
The National Bank of Moldova (NBM) reported this while assessing the financial situation in the banking sector for the 3 months of the year. According to the NBM, the increase of profits in January - March 2023 was due to the increase of interest incomes by 1.8 billion lei (+104.4%) and non-interest incomes by 94.8 million lei (+8.8%). At the same time, interest expenses increased by 862.6 million lei (+234.4%) and non-interest expenses (remunerations, commission and administrative expenses, reserves, depreciation of financial and non-financial assets, etc.) - by 455.3 million lei (+28.6%). Total revenues amounted to 4.6 billion lei, having increased by 1.9 billion lei (+67.3%) as compared to the same period of the previous year. At the same time, interest revenues amounted to 3.4 billion lei (74.7% of total revenues) and non-interest revenues - 1.2 billion lei (25.3% of total revenues). At the same time, total expenses amounted to 3.3 billion lei, increasing by 1.3 billion lei (+67.3%), compared to the same period of the previous year. Of these, interest expenses amounted to 1.2 billion lei (37.6% of total expenses) and non-interest expenses - 2 billion lei (62.4% of total expenses). According to the National Bank of Moldova, return on assets and return on equity capital at the end of the first quarter of 2023 amounted to 3.8% and 22.1%, respectively, having increased by 0.9 p.p. and 5.1 p.p., respectively, as compared to the situation as of the end of 2022. // 06.07.2023 – InfoMarket
