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March 30, 2023

Banca Comerciala Romana, net profit up by 5.4pct in H1

The BCR (Banca Comerciala Romana) reported at six months on 2016 a net profit worth 636 million lei, up by 5.4pct against the similar period of 2015, when the bank’s profit scored 603.4 million lei, says a release with the financial outcome published on Friday by the bank.

The NPLs (non-performing loans) ratio decreased by 14pct as compared to 23.1pct in June 2015, while the value of the new loans stood at 4.1 billion lei.

According to the source, BCR gave the individuals new loans worth 2.6 billion lei, in particular due to the fact that the ‘First House’ programme sped up following the additional guaranteeing threshold.

As for the loans to the companies, the bank gave in the January-June period some 1.5 billion lei, the BCR holding an over 30pct market ratio as regards the co-financing of projects benefiting from EU funds, with a 7.2 billion lei portfolio.

The BCR’s results show that based on a 704.7 million lei (156.8 million euro) operating result, the bank has had a net profit worth 636 million lei (141.5 million euro) in the first half of 2016, and the NPL coverage degree by provisions increased to 80.9pct in June 2016.

The net interest income went down by 7.8pct to 934.7 million lei (208 million euro), from 1.013 billion lei (237.9 million euro) in H1 2015, and the net commission income went up by 3.6pct to 354.1 mln lei (78.8 mln euro), from 341.9 mln lei (76.9 mln euro) in the similar period of 2015.

The customers’ deposits grew by 2.9pct to 43.848 bln lei (9.693 bln euro) at 30 June 2016 as compared to 42.626 bln lei (9.422 bln euro) at 31 December 2015, say the official data released by the bank.

BCR holds nationwide a 511-unit retail network alongside 21 business centres and 23 mobile offices for companies. The bank has the largest self-service banking equipment network in the country, with almost 2,600 spots (ATMs, Multifunctional Machinery, Automatic Payment Terminal, Currency Exchange Machinery) and 12,000 POS terminals at the retailers.

The BCR Group numbered 7,153 employees at end-June 2016.

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