Romania's BRD group H1 net profit up 24.4% y/y

BRD Groupe Societe Generale SA

03/08/2023 06:39

Aug 3 (Reuters) - Romanian lender BRD Group Societe
Generale  ROBRD.BX , majority-controlled by France's Societe
Generale  SOGN.PA : 
    * Says its net profit rose 24.4% on the year in the first
half to
767.52 million lei ($170.11 million), driven by strong corporate
lending and higher interest rate income. 
    * Says BRD Group's net banking income rose 13.4% on the year
to
1.86 billion lei, driven primarily by higher net interest
income.  
    * Says return on equity was 20.1% in the first half,
compared with
15.6% in the same period of last year. 
    * Says the quality of the loan portfolio was solid as shown
by the
non-performing loans ratio (according to EBA definition) of 2.2%
at the end of June, down from 2.6%.
    * Says risk costs showed a net charge of 5.2 million lei in
the
first half compared with 46 million lei in the first half of
last year, driven by recoveries from the non-performing
portfolio. 

Further company coverage:  ROBRD.BX 
($1 = 4.5120 lei)

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