Brief: Romania's BRD bank H1 net profit almost doubles to 750 mln lei

BRD Groupe Societe Generale SA

02/08/2017 06:41

BUCHAREST, Aug 2 (Reuters) - Romanian lender BRD Groupe 
Societe Generale  ROBRD.BX  
    * Says records net profit of 750.06 million lei  ($194.98 
million) in the first half, almost double from 382.14 million 
lei in the same period of 2016 due to by higher net interest 
income and positive cost of risk.  
    * The overall net profit of the BRD group, which includes 
leasing and asset management, stood at 749.98 million lei. 
    * Says NPL ratio fell by 330 basis points, to 8.5 percent at 
the end of June compared with 11.8 percent at the end of June 
2016, as a result of write offs and sales on non-performing 
loans. 
    * Says NPL coverage ratio was virtually unchanged at 75.0 
percent. 
    * Says the group's net banking income amounted to 1.34 
billion lei, up 2.1 percent compared to the first half of 2016, 
excluding  non-recurring elements booked in the first half of 
2016 (gain from AFS and VISA Europe transaction, which totaled 
RON 121 million).     Further company coverage: ROBRD.BX 
 
($1 = 3.8468 lei) 
 
 (Bucharest Newsroom) 
 ((bucharest.newsroom@thomsonreuters.com; +40 21 305 5266)) 
 
Keywords: BRD RESULTS/