Page 26 - bne_newspaper_November_23_2018

Weekly Lists
November 23, 2018 www.intellinews.com I Page 26
bne:Banker
Romanian banks post second-highest profit of last decade in Q3
The Romanian banking system’s aggregate net profit soared by 57% y/y in Q3 to RON2.15bn (€461mn), which was the second-best performance in the past decade after the €498mn performance in Q4 2015, according to bne IntelliNews calculations based on central bank data.
In January-September this year, the aggregate profit rose by 41.3% y/y to RON5.73bn. The profit in the first three quarters of the year already surpassed that accumulated in the whole of 2017. The six (out of a total of 35) largest banks accounted for 80% of the total aggregated profit.
The profitability ratios improved in Q2 close to the levels seen in Q3 2008 before the credit crunch in October and the economic reces- sion that followed in 2009.
The Ukrainian operations of Russia's VTB Bank introduced a new 15% commission on distribution of cash in the national and foreign currencies irrespective of the amount from November 14, amid
a snowballing liquidity crisis that has triggered worries over a possible collapse of the lender.
The only exception is cash withdrawals within UAH10,000 ($350) per day credited from a deposit account, as well as transfers to a customer’s own accounts opened with VTB Bank.
Two weeks ago, the bank imposed commissions and limits on cash withdrawal due to a decrease in liquidity caused by September's ruling of the Kyiv court of appeals to freeze the lender's assets, which deprived the bank of the opportunity to replenish liquidity by selling mortgaged property and assets acquired in foreclosure.
The National Bank for Foreign Economic Activity of Uzbekistan (NBU) signed a framework loan agreement worth €200mn with Credit Suisse in Zurich last week, UzReport news agency reported.
The agreement envisages cooperation in the joint financing of investment projects in Uzbekistan, under guarantees given by export credit agencies (ECA) “without providing a state guarantee”. The agreement will mainly cover financing for exports of equipment and technology from European countries, South Korea and China, the report said. Such agreements have been common since 2017, when Uzbekistan embarked on a drive to open the country to foreign investment.
Ukrainian unit of Russia's VTB feared to be close to collapse
Uzbekistan’s NBU signs €200mn loan deal with Credit Suisse