2. BCR – €206.3 million
BCR, the country’s biggest bank by assets posted a consolidated net profit of €206.3 million, down 57.1% from 2008, on rising loan impairment charges.
“In 2009, we achieved a 32% increase in operating profit. Due to higher loan loss provisions, our shareholders didn’t record the same improvement in results, due to the challenging economic environment. Our solid position in the market, strengthened by our efficient business model, cash flow and sound lending policy, customer base and our parent bank Erste Bank, allows us to continue helping our customers even under tough economic conditions”, said Dominic Bruynseels (photo), chief executive of BCR.
BCR’s loan book increased by 3.3% in 2009, to 46.53 million lei. However, non-performing loans accounted for 13.1% in total bank lending at the end of 2009.
“In 2009, we achieved a 32% increase in operating profit. Due to higher loan loss provisions, our shareholders didn’t record the same improvement in results, due to the challenging economic environment. Our solid position in the market, strengthened by our efficient business model, cash flow and sound lending policy, customer base and our parent bank Erste Bank, allows us to continue helping our customers even under tough economic conditions”, said Dominic Bruynseels (photo), chief executive of BCR.
BCR’s loan book increased by 3.3% in 2009, to 46.53 million lei. However, non-performing loans accounted for 13.1% in total bank lending at the end of 2009.