The profit made by the banks in the first two months of this year was 335.9 million lei, an increase of 104.6% or 171.7 million lei compared with the corresponding period last year, IPN reports.
The rise in profit is determined by the increase of 1.07 billion lei in incomes gained from the difference in the exchange rates given that the Moldovan leu has depreciated against the main foreign currencies. The sum consists of incomes earned from the reassessment of assets and liabilities in foreign currency and incomes earned from currency operations.
Banca de Economii reported the largest incomes earned from the reassessment of assets and liabilities in foreign currency (640.7m lei), mainly from the reassessment of its significant deposits in foreign currency at Banca Sociala. The incomes earned from currency operations (sale and purchase) by Banca de Economii totaled 32.7 million lei and are comparable with the incomes gained by other licensed banks with a developed network of agencies and branches.
Banca de Economii, Banca Sociala and Unibank together got about 14% of all the profit of the banking sector from the difference in the exchange rates.
