Brief: Romania's BRD bank nine-month net profit jumps 67.3 pct y/y

BRD Groupe Societe Generale SA

03/11/2016 12:26

BUCHAREST, Nov 3 (Reuters) - Romanian lender BRD Groupe 
Societe Generale  ROBRD.BX  
    * Says records net profit of 586 million lei ($144.31 
million) in the first nine months, up 67.3 percent from 351 
million lei in the same period of last year.  
    * The overall net profit of the BRD group, which includes 
leasing and asset management, stood at 606 million lei, up 67.9 
percent on the year. 
    * Says the group's net banking income rose by 9.6 percent to 
2.11 billion lei because of higher net interest income, net fees 
and commissions and other banking income. 
    * Says other banking income marked a significant increase 
thanks to VISA Europe transaction gain (registered in the second 
quarter of 2016) and income from disposals of government bonds 
and fund units. 
    * Says the downward trend registered in the net cost of risk 
continued. The net cost of risk decreased by 20.3 percent from 
the same period of last year. 
    * Write offs operations and sale of impaired loan portfolios 
led to a reduction of the non-performing loans (defined 
according to EBA methodology) to 10.8 percent as of Sept. 30, 
2016 from 15.3 percent as of Sept. 30, 2015.Further company 
coverage: ROBRD.BX($1 = 4.0608 lei) 
 
 
 (Bucharest Newsroom) 
 ((bucharest.newsroom@thomsonreuters.com; +40 21 305 5266)) 
 
Keywords: BRD RESULTS/