The net profit of the banking sector of Moldova in the first quarter of 2024 amounted to 814.2 million lei, decreasing by 39.2% (-524.1 million lei) compared to the same period in 2023.
This is stated in the materials of the National Bank of Moldova concerning the financial situation of the banking sector for 3 months of 2024. As noted by the NBM, the decrease in profit in January-March 2024 was due to a decrease in interest income - by 1 billion 167.8 lei (-33.9%). At the same time, income from exchange rate differences increased by 123.5 million lei (+34.7%), and income from fees and commissions - by 37.4 million lei (+4.9%). Herewith, interest expenses decreased by 502 million lei (-40.8%), and non-interest expenses (fees, commissions and administrative expenses, reserves, depreciation of financial and non-financial assets, etc.) increased by 14.8 million lei (+0.7%). Total revenues amounted to 3 billion 603.5 million lei, decreasing, compared to the same period of the previous year, by 1 billion 011.2 million (-21.9%). Meanwhile, interest income amounted to 2 billion 280.2 million lei (63.3% of total income), and non-interest income - 1 billion 323.3 million lei (36.7%). At the same time, total expenses amounted to 2 billion 789.2 million lei, decreasing, compared to the same period of the previous year, by 487.1 million lei (-14.9%). Of these, interest expenses amounted to 728.7 million lei (26.1% of total expenses), and non-interest expenses - 2 billion 060.5 million lei (73.9%). According to the National Bank of Moldova, return on assets at the end of the first quarter of 2024 amounted to 2.1%, decreasing by 0.7 percentage points compared to the situation at the end of 2023, and return on equity capital amounted to 12.1%, having decreased by 4.1 p.p. // 18.06.2024 — InfoMarket.
