BRD SocGen’s profit strengthens by 10.3% YoY, ROE leaps up to 17%
The net profit of BRD Groupe Societe Generale increased to RON 1.02 bln (EUR 200 mln) in January-September, 10.3% more compared to the same period last year, the company announced in a note to investors.
Andrei Chirileasa · Journalist
· Updated · 1 min read
The net profit of BRD Groupe Societe Generale increased to RON 1.02 bln (EUR 200 mln) in January-September, 10.3% more compared to the same period last year, the company announced in a note to investors.
Return to equity (ROE) rose close to 17% from 13% in the same nine-month period of 2021.
“Over the first nine months of 2022, BRD showed a robust performance across the board, despite the challenging macroeconomic context. Lending momentum was maintained at high levels,” according to François Bloch, CEO of BRD Groupe Société Générale.
BRD Group net loans outstanding, including leasing receivables, increased by +11.5% YoY to RON 36.18 bln (EUR 7.2 bln) at the end of September 2022.
On retail, the growth was +3.2% YoY, but corporate lending posted a noteworthy performance (+30.9% YoY) built on both an impressive activity in the SME segment (+49.5% YoY, with RON 1.4 billion approved loans within IMM Invest Government-backed scheme that was operational until June 2022 end) and solid growth of loans granted to large companies (+22.4% YoY).
Leasing activity also printed high, +12.2% YoY.
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