Romania's BRD group H1 net profit up 51% to 625.8 mln lei

BRD Groupe Societe Generale SA

03/08/2021 06:47

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 roughly 51% on the year in the
first
half to 625.8 million lei ($151.23 million), driven in part by
stronger commercial activity and net release in the cost of
risk.
    * Says BRD Group's net banking income rose 1.7% on the year
to
1.54 billion lei. 
    * Says return on equity was 12.6% in the first half, 2.8
percentage points higher from 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 3.3%
at the end of June, down from around 3.5%.
    * Says its solvency ratio reached 29.6% at the end of June,
compared with 27% in June of last year. 
    * Says risk costs showed a net reversal of 39 million lei in
the
first half, compared with a net charge of 225 million lei in the
first half of 2020, reflecting the joint effects of economic
rebound and recoveries on non-performing loans.

Further company coverage:  ROBRD.BX 
($1 = 4.1381 lei)

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