The banking system is likely to end this year in the red in linewith RAS as loan portfolios will further deteriorate in the secondhalf of 2010, and banks will be forced to set up new provisions tocover risks, states Dominic Bruynseels, the executive chairman ofBCR, the biggest bank on the market. In Q2 BCR saw the level of badloans reach 15.4% in the retail and SME portfolio, up 1.5% from thefirst three months. BCR group, including the biggest domestic bank,in H1 generated net income worth 245.5m RON (almost 59m euros),down over 11% from a year ago, but in IFRS. Differences to RASfigures are considerable. BCR representatives chose not to discloseRAS figures. At the end of June, the banking system piled up lossesfor the second month in a row, of above 50m euros, as the gains ofsome big banks did not cover the other players' losses. BCR headexpects a new wave of overdue payments starting September, afterpeople return from holidays, and does not see a rebound earlierthan next year. Instead, BCR official says that on the corporatesegment the situation is quite good. He specified the corporatearea is the most profitable business segment for BCR not only asregards lending, but also the other products and services.
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