Romania's BCR reports 10% stronger net earnings in Q1
BCR Group, which includes the second largest bank in Romania by assets, reported its net profit rose by 10% y/y to RON 620 million (EUR 125 million) in Q1, "driven by improved operating results underpinned by advances in customer business."
iulian ernst · Journalist
· Updated · 1 min read
BCR Group, which includes the second largest bank in Romania by assets, reported its net profit rose by 10% y/y to RON 620 million (EUR 125 million) in Q1, "driven by improved operating results underpinned by advances in customer business."
The net interest income surged by 17% y/y to over RON 1 billion (EUR 200 million), and the net fees and commission by nearly 16% y/y to RON 254 million.
The bank says it extended new loans of RON 3.1 billion to households (mortgage and unsecured consumer) and microenterprises, but the stock of retail loans increased by only RON 0.5 billion ytd to RON 29.7 billion. The stock of corporate loans decreased by some RON 0.75 billion ytd to RON 27.6 billion, despite the RON 2.8 billion new corporate loans extended during the first quarter of the year.
"In 2024, we continue to develop a banking business model anchored in prosperity as a result of financially intelligent choices. This model is based on understanding people's needs and financing the real economy," stated Sergiu Manea, BCR CEO.
(Photo source: Gabriel Petrescu/Dreamstime.com)
