BRDs measures to weather crisis: cost reduction and risk management
Although the bank has not yet joined to the race after people’s savings and companies’, that kicked off immediately after Lehman’s failure, BRD has managed to keep its position in the system and even continued to score profit.
“BRD has seen the signs of a possible recession in Romania in early 2008, and has constantly taken cost-containment and risk management measures ever since. Our relatively comfortable position is the result of years-long efforts to bring BRD to the level of best practices, especially in risk tracking. On the other hand, our client portfolio is no doubt superior to the bank system’s as a whole”, said Patrick Gelin.
The chief executive has listed 3 factors that could reignite lending activity:
- positive economic growth in Western European countries;
- an adjustment of real estate prices, so as to move the market from the standby mode;
- completion of a number of large infrastructure projects.
“BRD has seen the signs of a possible recession in Romania in early 2008, and has constantly taken cost-containment and risk management measures ever since. Our relatively comfortable position is the result of years-long efforts to bring BRD to the level of best practices, especially in risk tracking. On the other hand, our client portfolio is no doubt superior to the bank system’s as a whole”, said Patrick Gelin.
The chief executive has listed 3 factors that could reignite lending activity:
- positive economic growth in Western European countries;
- an adjustment of real estate prices, so as to move the market from the standby mode;
- completion of a number of large infrastructure projects.