BRD’s net profit up 64 pct to RON 381 mln in H1 on higher lending

Newsroom 03/08/2016 | 11:07

BRD registered a net profit of RON 381 million in the first semester of the year, higher by 64 percent versus the same period of 2015, showing a solid revenue growth, while the lower non-performing loans ratio dropped to 14.4 percent compared with 18.6 percent from at June 30, 2015.

The domestic loan market continues to grow moderately but unevenly across customer segments. Credit growth was fueled by higher demand from individuals, while loans granted to companies are expected to return to consistent growth. The annual dynamics of deposits remains positive on both customer segments.

BRD Group’s net loan expanded by 1.7 percent as compared to June 30, 2015 and by 3.1 percent versus December 31, 2015 mainly because of the housing loans and unsecured consumer loans on the retail segment, and ongoing growth on the large corporate clients segment.

Individuals’ net loans increased by 5.5 percent compared to June 30, 2015 following the increase of 19 percent in loan production, to RON 2.9 billion. In this context, market share on loans increased to 17 percent at May 31, 2016, by 0.3 percentage points up on an annual basis, according to the bank’s internal calculations. The number of individual customers rose by 2.6 percent compared with June 30, 2015.

The ratio of net loans to deposits was 70.7 percent. The net banking income amounted to RON 1,434 million, up by 12.9 percent compared to the first semester of 2015 based on the increases across all the main categories.

Georgiana Bendre

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