Romanian bank BRD's profit nearly doubles in first half

BRD Groupe Societe Generale SA

01/08/2014 09:07

BUCHAREST, Aug 1 (Reuters) - Romania's second-largest bank, 
BRD  ROBRD.BX , controlled by France's Societe Generale 
 SOGN.PA , reported a net profit of 123 million lei ($37.15 
million) in the first half, almost double the same period in 
2013. 
    Analysts at Raiffeisen had forecast BRD's first-half net 
profit at 107.8 million lei. BRD's profit in the first half of 
2013 was 62 million lei. 
    "The net cost of risk for the first half of 2014 has fallen 
by 25.3 percent on the year," BRD said in a statement. "With a 
solid capital base, the bank maintains a comfortable capital 
adequacy ratio of 16.4 percent under Basel III regulations." 
    BRD said its non-performing loans edged down to 23.4 percent 
in June from December's 24.8, under international financial 
reporting standards. The rate was 20.4 percent under Romanian 
central bank rules, which BRD said was in line with the average 
of the banking system.    
($1 = 3.3107 Romanian lei) 
 
 (Reporting by Radu Marinas. Editing by Jane Merriman) 
 ((radu.marinas@thomsonreuters.com; +40 21 305 5263; Reuters 
Messaging: radu.marinas.thomsonreuters.com@reuters.net)) 
 
Keywords: ROMANIA BRD/