4 August 2009
BRD reports first-half profit down 17.4%
BRD SocGen, Romania’s second largest bank has reported first-half after-tax profit of 425 million lei (100.47 million euro), down 17.4% from prior year period.
The net banking income reached 1,636 million lei (387 million euros), up 17% from year-ago half, while operating profit marked a 19.4% increase year-on-year, up to 919 million lei (217 million euros).
The bank’s retail business zoomed 11% YoY in the six months to June 30, the total volume of loans to customers standing at 32.2 billion lei. The loans for natural persons increased by 10.5% up to 15.8 billion lei, while business loans upped 11.5% up to 16.4 billion lei.
The customers’ deposits stood at 29.1 billion lei at the end of first half.
The net risk cost increased accordingly, but remained below the local banking system median.
In contrast, BCR, Romania’s largest bank reported a net profit of 144.2 million euros, down 30% year-on-year.
The return on equity stood at 22.3% in first half, while cost/income ratio stayed in the range of 43.8%. The general expenses remained under control, their increase absorbing the impact of EUR/RON exchange rate volatility.
The bank’s retail business zoomed 11% YoY in the six months to June 30, the total volume of loans to customers standing at 32.2 billion lei. The loans for natural persons increased by 10.5% up to 15.8 billion lei, while business loans upped 11.5% up to 16.4 billion lei.
The customers’ deposits stood at 29.1 billion lei at the end of first half.
The net risk cost increased accordingly, but remained below the local banking system median.
In contrast, BCR, Romania’s largest bank reported a net profit of 144.2 million euros, down 30% year-on-year.
The return on equity stood at 22.3% in first half, while cost/income ratio stayed in the range of 43.8%. The general expenses remained under control, their increase absorbing the impact of EUR/RON exchange rate volatility.