It posted an increased operating result of RON 2,223.4 million (EUR 528 million) in the first three quarters of 2009, up 24.9 percent on the same period of 2008. The main driver was the operating income growth (up by RON 387.4 million or 12.5 percent on the first nine months 2008) while operating expenses decreased moderately, by RON 55.3 million or 4.2 percent on the third quarter of 2008, in the context of continuing branch network expansion and RON depreciation. The cost-income ratio improved to 36.3 percent at the end of the period, from 42.7 percent at end-September 2008). Meanwhile, BCR Bank's market share passed 22 percent on overall lending since the end of September 2008, driven by corporate loan growth. The bank says it is enjoying strong liquidity and has adapted its range of products to the current economic context. Retail lending had a stable overall market share on 2008. “While the operating result continues to be positively managed, this is not sufficient to outweigh the growth in risk costs, where we are taking a prudent approach as the economic conditions remain difficult,” said Dominic Bruynseels, BCR CEO. The group is active on the local market through BCR, BCR Banca pentru Locuinte, BCR Administrare Fond de Pensii, BCR Leasing, BCR Asset Management, BCR Securities, Anglo Romanian Bank Limited and BCR Chisinau.