BRD Groupe Societe Generale posted for first nine months this year a net profit of 1.038 billion lei (285 million euros), up 52.2% from similar interval 2007, according to preliminary earning report issued by the company.
BRD-SocGen gained 275 million euros last year, namely 48% hike in euros, double as compared to 2006.
Nine-months outcome includes profit marked from the sale of 25% stake held by BRD in Asiban.
Without the money from Asiban’s sale, BRD’s operating net profit in first nine months was 813 million lei (223 million euros), up 19% compared to similar period of 2007.
BRD registered a 225 million profit from the sale of stake in Asiban, the company informed.
Asiban insurer was taken over by French-based Groupama, the contract being sealed on April 9, 2008 by BRD, Banca Comerciala Romana, Banca Transilvania, and CEC Bank that held a quarter each of the insurer’s common capital.
Early August, BRD posted 87.5 million euros income from the sale of 25% stake in Asiban.
Credits granted to BRD clients rose in September 2007 - September 2008 interval by 32% while deposits volume climbed 10% compared to last year end, when bank’s assets amounted to 40.7 billion lei.
“The growth is well-balanced, based on implementing strict principles of risk tracking, in a relatively grim economic context,” BRD’s CEO, Patrick Gelin stated in the press release.
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