BRD – Groupe Societe Generale had a net profit amounting to RON 210 M, in Q1 of 2009, down by 19 per cent compared to the net result on March 31, 2009, based on the data sent to Bucharest Stock Exchange (BVB), Agerpres informs.
This drop is mainly accountable to the significant advance in the costs associated to credit risks, but which, in the current context, can be easily managed, a press release reads . According to the bank, in case non recurrent revenues corresponding to Q1 2008 are considered, then the drop in the net result is only 7 per cent.
Regarding the net banking revenue, this amounts to RON 815 M in Q1, by 18 per cent more than on March 31, 2008, and the gross operational profit advanced by 20 per cent as against the same time period of the previous year, amounting to RON 460 M.
The total volume of lending to clients is RON 33 bln., by 19.5 per cent higher than on March 31, 2008. The loans for individuals amount to RON 16 bln., by 17 per cent more, whereas the lending for individuals advanced by 22 per cent to RON 17 bln. The deposits made by clients, at the end of Q1 of 2009, were by 9.4 per cent over the level registered on March 31, 2008, amounting to RON 29.6 bln.
In addition, BRD holds talks with international banking institutions to receive credit lines, as Patrick Gelin, CEO of the bank, informed, cited by The Money Channel. He said he was content with BRD results in the first quarter, considering that the risk cost advanced much and the demand for loans is low.