Brief: Romania's BRD bank H1 net profit doubles y/y

BRD Groupe Societe Generale SA

05/08/2015 09:43

BUCHAREST, Aug 5 (Reuters) - Romanian lender BRD Groupe 
Societe Generale  ROBRD.BX  
 
    * Says records strong increase in net profit to 270 million 
lei ($66.51 million) in the first half of 2015, compared to 128 
million in the first half of 2014, driven by ongoing   
improvement in risk costs and strict monitoring of operating 
expenses.  
    * Says total assets amounted to 47.1 billion lei at the end 
of June. 
    * Says non-performing loans ratio fell to 18.8 percent at 
the end of June from 23.4 at June 30, 2014, due to write-offs 
and sales of impaired receivables. 
    * Says strengthened coverage ratio of non-performing loans  
with IFRS provisions to 72.9 percent from 71.2 at end-June 2014. 
    * Says net cost of risk declined by 46.2 percent on the year 
at Group level. 
    * Says has high capital adequacy ratio of 16.3 percent at 
June 30, 2015 versus 16.6 percent at June 30, 2014. 
     
Further company coverage:  ROBRD.BX       
 
 
($1 = 4.0597 lei) 
 
 (Reporting by Radu Marinas; editing by Matthias Williams) 
 ((radu.marinas@thomsonreuters.com; +40 21 305 5263; Reuters 
Messaging: radu.marinas.thomsonreuters.com@reuters.net)) 
 
Keywords: BRD RESULTS/