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Profit of BRD Group shrinks marginally in H1

The net profit of the BRD Groupe Societe Generale (BVB: BRD) edged down to RON 617 mln (EUR 125 mln) in the first half of 2021, 1.4% smaller compared to the same period last year.

The profit of the BRD bank was the same (RON 617 mln) and 1.9% smaller in YoY terms.

The net banking incomes increased by 9.0% YoY while the expenditures advanced by only 5.1% YoY - which resulted in a 13.2% stronger operating result for BRD bank - a result that was impacted, however, by the net cost of risk generated by provisioning for bad loans.

Total net loans increased by 8.9% YoY to RON 34.6 bln (EUR 7 bln), while the amounts owed to customers (deposits) edged up by only 1.1% YoY to RON 53.8 bln.

The return on equity (ROE) for the bank strengthened to 16.3% in H1 from 13.1% in the same period last year, as the equity was reduced by 42% YoY to RON 5.64 bln.

(Photo: Dreamstime)

andrei@romania-insider.com

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The Capital Markets News section is powered by the Bucharest Stock Exchange 

 

BSE

 

 

Profit of BRD Group shrinks marginally in H1

The net profit of the BRD Groupe Societe Generale (BVB: BRD) edged down to RON 617 mln (EUR 125 mln) in the first half of 2021, 1.4% smaller compared to the same period last year.

The profit of the BRD bank was the same (RON 617 mln) and 1.9% smaller in YoY terms.

The net banking incomes increased by 9.0% YoY while the expenditures advanced by only 5.1% YoY - which resulted in a 13.2% stronger operating result for BRD bank - a result that was impacted, however, by the net cost of risk generated by provisioning for bad loans.

Total net loans increased by 8.9% YoY to RON 34.6 bln (EUR 7 bln), while the amounts owed to customers (deposits) edged up by only 1.1% YoY to RON 53.8 bln.

The return on equity (ROE) for the bank strengthened to 16.3% in H1 from 13.1% in the same period last year, as the equity was reduced by 42% YoY to RON 5.64 bln.

(Photo: Dreamstime)

andrei@romania-insider.com

Normal
 

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