Romanian Banks Posted a $52 Million Loss in First Half, ZF Says

Romanian banks incurred total losses of 192 million lei ($52 million) in the first half of this year because of higher bad-loans costs, Ziarul Financiar reported, citing unpublished figures from the central bank.

Twenty-three of the 41 banks operating in the country posted profits for the first six months, while 18 recorded losses, according to the newspaper.

The central bank revised total 2011 losses for the banking system to 777 million lei, up from 430 million, after the results were audited, Ziarul Financiar said.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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