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BRIEF-Romania's BRD bank Q1 net profit jumps to 306.9 mln lei
May 4, 2017 / 6:05 AM / 5 months ago

BRIEF-Romania's BRD bank Q1 net profit jumps to 306.9 mln lei

BUCHAREST, May 4 (Reuters) - Romanian lender BRD Groupe Societe Generale

* Says records net profit of 306.9 million lei ($73.57 million) in the first quarter, sharply higher from 62.8 million lei in the same period of 2016 due to falling costs, higher interest rate revenue and new loans.

* The overall net profit of the BRD group, which includes leasing and asset management, stood at 330 million lei, roughly 4.5 times higher on the year.

* Says write offs operations and sale of impaired loan portfolios led to a reduction of the non-performing loans (defined according to EBA methodology) to 10.3 percent at the end of March, from 13.7 percent as of March 2016.

* Says the group’s net banking income rose by 0.4 percent to 650 million lei because of higher net interest income, net fees and commissions and other banking income.

Further company coverage: ROBRD.BX ($1 = 4.1715 lei) (Bucharest Newsroom)

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