Romania's BRD group 2020 net profit down 36% y/y

BRD Groupe Societe Generale SA

10/02/2021 07:14

BUCHAREST, Feb 10 (Reuters) - Romanian lender BRD Group
Societe Generale  ROBRD.BX , majority-controlled by France's
Societe Generale  SOGN.PA 
    * Says its net profit fell 36% on the year to 962.9 million
lei
($239.58 million) in 2020.
    * Says net banking income fell 5.6% on the year in 2020 to
3.09
billion lei. 
    * Says BRD Group net loans including leasing receivables
grew 0.5%
on average compared to 2019, reflecting a rebound in the second
half.
    * Says the Bank's net profit fell 37.8% year on year to
951.6
million lei.
    * Says the quality of the loan portfolio kept being solid
with a
NPL ratio (non-performing loans, according to
EBA definition) of 3.0% at the end of 2020, stable compared 
with 2019, with 75.8% covered by provisions.
    * Says the net cost of risk registered a provision charge
worth
353 million lei in 2020, compared with 204 million lei in 2019,
reflecting prudence and the deteriorated economic environment.
    * Says will propose a gross dividend per share of 0.0749 lei
($0.0186) at its annual shareholders meeting on April 22.

($1 = 4.0192 lei)

 (Reporting by Luiza Ilie)
 ((luiza.ilie@thomsonreuters.com; +4021 527 0312; https://www.reuters.com/journalists/luiza-ilie))