Romania's BRD group 9-mth net profit down 39.8% y/y

BRD Groupe Societe Generale SA

05/11/2020 07:34

BUCHAREST, Nov 5 (Reuters) - Romanian lender BRD Group
Societe Generale  ROBRD.BX , majority-controlled by France's
Societe Generale  SOGN.PA 
    * Says its net profit fell 39.8% on the year to 738 million
lei
($178.19 million) at the end of September.
    * Says total net loans including leasing edged 0.2% up on
the year
to 31.2 billion lei.
    * Says net loans have been "supported by SMEs advance on
active
involvement in the IMM Invest programme."
    * Says the Bank's net profit fell 43% year on year to 719
million
lei.
    * Says both the Bank and the Group maintained a comfortable
liquidity level over the analysed period.
    * Says the quality of the loan portfolio kept being solid
with a
NPL ratio* (non-performing loans, according to
EBA definition) of 3.4% at September 2020 end against 4.0% at
September 2019 end and a high level of coverage of
non-performing exposures.
Says that during Q3 2020, the gradual restart of economic
activity generated an improved demand for leasing, with the
level of new financed volumes recovering towards pre-COVID 19
level. 

    
    * ($1 = 4.1416 lei)


 (Reporting by Radu Marinas)
 ((radu.marinas@thomsonreuters.com; +40 21 527 04 33))