COMPANIES ECONOMY

BRD-Groupe Societe Generale’s net profit reaches 270m lei, after H1

The net profit of BRD-Groupe Societe Generale rose to 270 million lei in H1 2015 compared to 128 million lei in the same period of last year, due to the improvement in risk cost and strict monitoring of operating costs, reads a release sent on Wednesday to the Bucharest Stock Exchange (BVB).
The ratio of non-performing loans is on a decreasing trend, to 18.8pct on June 30, 2015, from 23.4pct on June 30, 2014, due to the writing off and sale of depreciated liabilities. The net risk cost went down by 46.2pct at the group’s level, compared to the same period of last year, having recorded favorable results on both segments (retail and business customers).
The balance of the net loans extended by BRD Group decreased to 27 billion lei, down by 2.5pct compared to the same period of last year due to lower loans to SMEs but it saw an advance of 1.1pct from December 31, 2014 thanks to more retail and business loans. The net retail loans reached 17 billion lei, up by 2.6pct from June 30, 2014 and by 2.4pct more than on December 31, 2014. The balance of net business loans rose by 6.6pct from December 31, 2014 and by 2.8pct from June 30, 2014.
BRD Group’s deposits advanced by 9.5pct from June 30, 2014 and by 4.9pct from December 31, 2014, having reached 37.7 billion lei as a result of the good drawing of savings from retail and non-retail customers.
BRD-Groupe Societe Generale is the second-largest bank in Romania in terms of total assets. The institution has 2.2 million customers and operates a network of 845 units. The total assets of the bank stood at 47.1 billion lei at end-June 2015. BRD is part of Societe Generale Group, one of the largest European financial services groups. The Group has 148,000 employees in 76 countries and 32 million customers worldwide.

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