The impact of the COVID-19 crisis on the banking system in Romania

ABSTRACT

The banking sector is one of the most important sectors for the economy of a country, being the one that supports the functioning of the market and that contributes to the achievement of economic growth. In this paper, we proposed that, starting from the statistical data published in the databases regarding Romania, to characterize the functioning of the banking system during the Covid-19 pandemic. The data were processed and analyzed with the help of some statistical indicators used in the analysis of time series (absolute change with a fixed base, absolute change with a chain base, the dynamic index with a fixed base, the dynamic index with a mobile base and the rhythm of the dynamics) and stood at the basis for formulating conclusions regarding how the banking system in Romania faced the challenges of the 2018-2020 period. At the same time, the strengths and weaknesses that characterized the banking system were identified, so that in the future, measures can be taken to avoid the risks resulting from the emergence of economic, health, social, etc. crises.