Brief: Romania's BRD bank Q1 net profit jumps to 306.9 mln lei

BRD Groupe Societe Generale SA

04/05/2017 07:02

BUCHAREST, May 4 (Reuters) - Romanian lender BRD Groupe 
Societe Generale  ROBRD.BX  
    * Says records net profit of 306.9 million lei ($73.57 
million) in the first quarter, sharply higher from 62.8 million 
lei in the same period of 2016 due to falling costs, higher 
interest rate revenue and new loans.  
    * The overall net profit of the BRD group, which includes 
leasing and asset management, stood at 330 million lei, roughly 
4.5 times higher on the year. 
    * Says write offs operations and sale of impaired loan 
portfolios led to a reduction of the non-performing loans 
(defined according to EBA methodology) to 10.3 percent at the 
end of March, from 13.7 percent as of March 2016. 
    * Says the group's net banking income rose by 0.4 percent to 
650 million lei because of higher net interest income, net fees 
and commissions and other banking income.  
 
    Further company coverage: ROBRD.BX 
($1 = 4.1715 lei) 
 
 (Bucharest Newsroom) 
 ((bucharest.newsroom@thomsonreuters.com; +40 21 305 5266)) 
 
Keywords: BRD RESULTS/