BUSINESS

BCR reports net profit of about EUR 127 M over Jan-Sept



Banca Comerciala Romana (BCR) reported a net profit of RON 559.8 M (EUR 126.9 M) after the first nine months of this year, as against losses worth RON 758.9 M (- EUR 172.1 M) in the similar period of last year, shows a bank release remitted on Wednesday. According to the cited source, the bank going on profit was determined by a good operational result which exceeded the quantum of the still high risk costs and by the positive impact of the release of some tax liabilities totalling RON 560.8 M (EUR 127.7 M) in the second quarter. The cover rate of non-performing loans of 63.4 percent in September 2013 was significantly higher to the value of 57.2 percent registered in September 2012, the cited document points out. BCR maintained its market leader position in terms of assets, in spite of a 7 percent reduction in the total assets, to approximately RON 68.126 bln (EUR 15.268 bln) on September 30, 2013, from RON 73.288 bln (EUR 16.489 bln) on December 31, 2012.

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