BRD’s net profit up by 96.3 pct in H1 up to RON 750 mln

BRD’s net profit went up by 96.3 percent in the first semester of this year, compared with the same period of 2016 up to RON 750.06 million, especially due to the positive cost of the risk, after a provision issue of RON 270 million.

At the level of the entire group, which includes the bank’s results, as well as the results of the other divisions, such as the leasing one, the profit increased by 96.8 percent in the first semester of the year.

At the bank’s level, the operational revenues decreased by 6.4 percent in the first semester, compared with the same period of 2016, up to RON 1.29 billion.

The net revenues from the interests increased by 5.1 percent to RON 771.9 million, but the revenues from commissions decreased by 4.2 percent to RON 349.3 million, according to BRD’s balance sheets.

The operational expenses of the bank climbed by 2.1 percent in the first semester to RON 681.15 million.

Although the operational revenues dropped and the expenses went up, while the bank increased its profit due to a provision issue.

„The net cost of the risk registered a provision issue by RON 270 million in the first half of the year, due to some insurance damages, the recovery from non-performative non-retail portfolio and the gain from gain from non-performative credit portfolio sale,” says the bank’s report.

Thus, the net cost of the risk was RON 274.2 million in the first semester of this year, compared with a loss of RON 270.5 million in the same period of 2016.

The number of internet and mobile banking contracts (My BRD Net si My BRD Mobile) reached 1.25 million at the end of June, a growth by 27.1 percent compared with June 2016.