Brief: BRIEF-Romania's BRD bank net profit jumps 90 pct y/y

BRD Groupe Societe Generale SA

08/02/2018 12:16

BUCHAREST, Feb 8 (Reuters) - Romanian lender BRD Groupe 
Societe Generale  ROBRD.BX  
    * Says the bank records net profit of 1.38 billion lei in 
2017, 90 
percent up on the year. 
    * Says BRD Group registered very robust profitability. 
    * says the Group's net profit amounted to 1.415 billion lei 
in 
2017, up 85.3 percent on the year, leading to return on equity 
of 20.1 percent compared to 11.8 percent in the previous year. 
    * BRD maintained a comfortable capital adequacy ratio of 
19.5 
percent as of 2017 end (including current year result, net of 
planned dividends (subject to a favourable vote by the Annual 
General Meeting of Shareholders on April 19th, 2018) at 
individual level, under Basel 3 regulations with national 
discretions), versus 19.8 percent at 2016 end (including net 
profit). 
    * Says the Board of Directors has decided to propose a 
dividend 
corresponding to a payout ratio of 80 percent of the bank 2017 
core net result and 100 percent of non-recurring items net of 
tax, resulting in an overall payout ratio of 83 percent, subject 
to a favourable vote by the Annual General Meeting of 
Shareholders on April 19th, 2018.   
 
    
    Further company coverage: ROBRD.BX 
 
($1 = 3.9437 lei) 
 
 (Bucharest Newsroom) 
 ((bucharest.newsroom@thomsonreuters.com; +40 21 305 5266)) 
 
Keywords: BRD RESULTS/