RO Banks:

august 22, 2016

H1'16 net profit for the banking sector reported at RON 2.4bn (EUR 530m) due to better asset quality, decline in cost of funding & improvement in NPLs formation, but also including gains on VISA transaction - excluding at least some estimated EUR 130m aggregated figure accounting for the latter, adjusted net profit would stand around EUR 400m. FY'15 banking system adjusted net profit for TLV negative goodwill recognized was at RON 3.2bn (EUR 711m), which could mean that this year, should H1'16 trends for above listed main profitability metrics maintain, FY'16 could result in an aggregated adjusted net profit in line with FY'08 net profit of RON 4.4bn (EUR 977m).

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