Banks achieve better cost control in H1 - Azi

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The banking system succeeded in improving cost management over the last year, so the share of costs in overall revenues fell by over 6 percentage points, from 62.73% in the first half of 2007, to 56.55% in the first half of 2008.

At the end of last year, the cost/revenue ratio reached an all-time high of 76.2%, over 8% higher than in 2006. The biggest cost cuts came from large players in the first half of this year, such as BCR and Raiffeisen, which have ambitious plans to render operations...

Read the whole story in: Ziarul Financiar