BCR net profit fell by 36 pct to EUR 146 mln in 2017

Sorin Melenciuc 28/02/2018 | 17:05

The net profit of BCR, the biggest lender in Romania controlled by Austrian Erste, fell by 36 percent to RON 668.1 million (EUR 146 million) in 2017, mainly due to base effect.

In 2016, the bank had one-off revenues due to substantial risk provision releases and significant gain following the sale of certain stakes.

Both the net interest and fee incomes fell, with 1.3 percent and 1.2 percent, while the net trading result gained 12.8 percent last year.

The bank’s operating result reached EUR 632.1 million last year, up 0.7 percent due to lower operating expenses.

In the retail and corporate segments, BCR’s portfolio of new loans stood at RON 8.1 billion driven mainly by demand for the Prima Casa goverment-backed program.  The retail loans stock grew by 5.1 percent against December 2016.

“BCR also marked in 2017 a series of substantial increases in electronic and digital operations – 78% more Mobile Banking customers and 32% more Internet Banking customers,” said the bank in a statement.

The ratio of non-performing loans fell from 11.8 percent at the end of December 2016 to 8.1 percent in December 2017.

BCR ended 2017 with more than 500 retail units in Romania and assets of RON 70.9 billion (EUR 15.2 billion), up 5.1 percent compared to 2016.

BR Magazine | Latest Issue

Download PDF: Business Review Magazine March (II) 2024 Issue

The March (II) 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “BAT DBS Romania Hub: A Vibrant New Office For An Employee-Centric
Sorin Melenciuc | 27/03/2024 | 17:32
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue