Home / BUSINESS / FINANCIAL / BANKS / BCR – net profit of RON 697m in H1
BCR’s net profit, up by almost 30 pc in Q3

BCR – net profit of RON 697m in H1

The Romanian Commercial Bank (BCR) achieved a net profit of RON 697 million (EUR 149.7 million) in the first half of 2018 and an operating result of RON 740.9 million (EUR 159.2 million), BCR informs in a press release.

BCR recorded a steady advance of more than 50% in crediting natural persons as compared to H1 2017, consolidating its position as the main banking partner for Romanians who want to buy a house, holding more than 20% of the loans granted in H1 2018.

The share of non-performing loans (NPL) declined to 6.7%, as compared to 8.1% in December 2017, with the NPL coverage ratio reaching a very comfortable level of 95.3% in June 2018, as compared to 92.7 % in December 2017.

The operating result was of RON 740.9 million (EUR 159.2 million), by 1.5% higher than in 2017, as a result of the improvement in operating income.

Net interest income increased significantly by 9.5%, to RON 962.3 million (EUR 206.7 million), up from RON 878.7 million (EUR 193.7 million) in the first semester of 2017, as a result of the increase of interest rates on the market, as well as of larger volumes of current accounts.

The net commission income advanced by 3.1% to RON 349.4 million (EUR 75.1 million), up from RON 338.9 million (EUR 74.7 million), in H1 2017.

Credit and advances to customers increased by 4.5% to RON 34.994 billion (EUR 7.504 billion) on June 30, 2018, up from RON 33.491 billion (EUR 7.189.2 million) on December 31, 2017, as a result of larger credit volumes in retail (+8.3% annually), while corporate loans remained stable.

Customer deposits stagnated at RON 52.481.6 billion (approximately EUR 11.255 billion) on June 30, 2018, as compared to RON 52.496 billion (EUR 11.269 billion) on December 31, 2017, based on an increase in retail deposits and a decrease in corporate deposits.

About Victor Lupu