BCR, the second-biggest lender in Romania, part of Austrian group Erste, will pay dividends worth RON 485 million (EUR 103 million), representing half of the net profit recorded in 2018, of RON 970 million (EUR 206 mln).

The dividends are more than double compared to last year, when the bank compensated its shareholders with RON 228 million (some EUR 50 mln). In 2017, BCR made a net profit of RON 570 million and used some of it (RON 121 mln) to cover the record losses recorded in 2014.

Erste Group holds 99.8% of BCR’s shares and will cash in most of the dividends. The bank will include the remaining profit from 2018 in its Tier 1 capital.

BCR’s shareholders also decided that the bank can issue bonds worth up to RON 1.5 billion (EUR 319 mln) this year.

editor@romania-insider.com

(Photo source: Bcr.ro)