BCR, the second-biggest lender in Romania, part of Austrian group Erste, increased its net profit by 35% in the first nine months of this year to RON 1.14 bln (EUR 232.5 mln). The improved result was due to higher operating profit and significantly lower risk costs compared to the first nine months of 2020.

The operating result improved by 12.3% to RON 1.58 bln (EUR 321 mln) on the back of higher operating income along with lower operating expenses.

The net impairments from financial instruments amounted to RON 70 mln (EUR 14.3 mln), down from RON 277 mln in the same period of 2020. The stock of net customer loans granted by BCR advanced by 11.1% year-on-year to RON 46.6 bln (EUR 9.4 bln) at the end of September.

In the first nine months, the bank granted new loans in local currency worth RON 7 bln to individual consumers and micro-businesses and approved new corporate loans worth RON 4.7 bln.

“Beyond the numbers and the financial results, in such moments of reflection, we look at the real impact and positive changes our projects are bringing to society. We continue to actively develop the pillar of financial education and have placed practical savings tips for the general public at the heart of our communication this autumn, in order to contribute as directly as possible to increase the financial resilience of Romanians,” said BCR CEO Sergiu Manea.

andrei@romania-insider.com

(Photo source: Dreamstime.com)