Brief: Romania's BRD Group Jan-Sept net profit up 7.4% y/y

BRD Groupe Societe Generale SA

06/11/2019 14:56

Nov 6 (Reuters) - Romanian lender BRD Group Societe Generale
 ROBRD.BX , majority-controlled by France's Societe Generale
 SOGN.PA : 
    * Says records net profit of 1,226 million lei ($285.49
million),
7.4% up on the year on robust commercial and operational
performance and positive cost of risk.
    * Says BRD Group's net banking income advanced by +6.9% over
the
first nine months of 2019 versus the same period of the last
year, thanks to the strong increase in net interest income, as
main growth driver.
 
    * Says positive results led to a return on equity of 20.8%
in
9-months of 2019 (stable compared to 9-months of 2018) and
return on assets of 2.9% (stable compared to 9-month of 2018).
    * Says the quality of the loan portfolio further improved as
shown
by continued decline in non-performing loans ratio (according to
EBA definition) to 4.0% at the end of September versus 5.8% at
the end of September 2018 and a high level of coverage of
non-performing exposures.

Further company coverage:  ROBRD.BX 

($1 = 4.2943 lei)

 (Reporting by Bucharest Newsroom)