BRD Groupe Societe Generale's nine-month profit in Romania shrinks by 19%
The net cost of risk also decreased, to EUR 214 million, down 14 percent over the same period in 2010, while the bank's operating expenses grew by 1 percent. Lower demand for loans brought BRD’s total volume of loans down 3 percent, to EUR 7.61 billion.
The bank reported a decrease on the deposits side as well. The total volume of the customers’ deposits went down slightly from the same period last year, to a level of EUR 6.86 million.
BRD Groupe Societe Generale is the second largest bank in Romania based on total assets. The lender had around 2.4 million customers and a network of 1,500 ATMs at the end of September this year.
Irina Popescu, irina.popescu@romania-insider.com
(photo source: Corina Saceanu/romania-insider.com)