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October 30, 2020

BCR ended H1 with losses of RON 546.4 M

BCR suffered in Q2 this year a net loss of RON 240.6 M, against the background of lower incomes from interests, while provisions stayed at a high level, while in the first six months of the year the negative result amounted to RON 546.4 M, according to data released by the bank. For Q1 2012, BCR posted a net loss of RON 307.8 M (EUR 70.8 M), which represents a quarterly record for the bank. The operational incomes in Q2 (RON 983.9 M) dropped by 4.4 pc against the previous quarter (RON 1,028.9 M in Q1 2012), mostly driven by a poor net income from interests, partly covered by a very good net income from transactions and by a higher net income from commission fees. In its turn, Erste Group – the majority shareholder in BCR – posted for the first six months a net profit after minority interests of EUR 453.6 M, 12.9 pc under the figure of the similar period of 2011. Moreover, Erste wrote off EUR 210 M in goodwill at BCR in the second quarter, after taking a similar measure in October, when the Austrian group wrote off EUR 700 M at its Romanian subsidiary.

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