Moldovan Banks Net Profit Dropped by 43 Percent in 2020 (€33.22 Million) Compared to the Same Period in 2019 (€58.4 Million)

Moldovan Banks Net Profit Dropped by 43 Percent in 2020 (€33.22 Million) Compared to the Same Period in 2019 (€58.4 Million)
29 July 2020 | 05:23

In the first half of 2020, the net profit of Moldovan banks dropped by 43.1 percent compared to the same period in 2019. InfoMarket mentions that while during January-June 2019, the banks had a net profit of over €58.4 million (1.151 billion lei), during the same period in 2020, the banks had a net profit of €33.22 million (654.94 million lei).

According to the National Bank of Moldova, all 11 banks made a profit for six months in 2020. Four banks (Moldova-Agroindbank, Moldindconbank, Mobiasbanca – OTP Group, and Victoriabank) had around €27.7 million (546.22 million lei) or 83.4 percent of the total net profit. 

Ten out of 11 banks experienced a decline in profit compared to the same period in 2019, and only one bank registered an increase in profit. 

Bank NameNet Profit for January-June 2020 Net Profit for January-June 2019 
Moldova-Agroindbank€14.63 million (288.58 million lei)€20.17 million (397.63 million lei)
Moldindconbank€8.7 million (171.61 million lei) €16.45 million (324.34 million)
Victoriabank€2.32 million (45.92 million lei)€7.37 million (145.33 million lei)
Mobiasbanca – OTP Group€2.03 million (40.11 million lei)€6.86 million (135.25 million lei)
FinComBank€1.4 million (27.63 million lei)€1.65 million (32.61 million lei)
Eximbank €1.06 million (21.03 million lei)€1.65 million (32.61 million)
Energbank 848,000 euros (16.72 million lei)854,000 euros (16.84 million lei)
BCR Chișinău814,000 euros (16.06 million lei)452,000 euros (8.92 million lei)
ProCreditBank 624,000 euros (12.31 million lei)€1.81 million (35.83 million lei)
Comertbank 440,000 euros (8.69 million lei)480,000 euros (9.47 million lei)
EuroCreditBank 318,000 euros (6.27 million lei)349,000 euros (6.88 million)
The National Bank of Moldova data from the period January-June 2020 compared to the same period in 2019

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