Romania's BRD Group net profit up 34.5 pct y/y in H1

BRD Groupe Societe Generale SA

02/08/2018 06:41

BUCHAREST, Aug 2 (Reuters) - Romanian lender BRD Groupe
Societe Generale  ROBRD.BX 
    * Says the bank records net profit of 766.7 million lei  in
the
first half, while the BRD Group's net profit was 757 million lei
($190.98 million), up 34.5 percent.
    * Says net banking income rose 10.5 percent on the year,
reflectting positive volume effects and a favourable interest
rate environment.
    * Says the ratio of non-performing loans stood at 6.3
percent at
the end of June compared with 8.8 percent in the same month of
last year, while the coverage ratio was 73 percent. 
    * Says BRD Group registered a cost of risk write-back of 
154 million lei.  
    * Says BRD maintained a capital adequacy ratio of 18.8
percent.
    * Francois Bloch, CEO of BRD Groupe Societe Generale: "In
the
first half of 2018, commercial performance remained robust,
particularly on retail business, as shown by growing loan and
deposit volumes and rising number of transactions, generating
solid profitability. Our online and mobile offers are being
continuously refined and expanded, proactively meeting the
requirements of all of our customers, including the most
digitally astute ones."

Further company coverage: ROBRD.BX
($1 = 3.9637 lei)

 (Reporting by Luiza Ilie)
 ((bucharest.newsroom@thomsonreuters.com; +40 21 305 5266))