BRD-SocGen to distribute 70% of 2021 strong earnings
BVB-listed BRD Groupe SocGen (BRD) financial group achieved "excellent financial performance" last year when its return on equity (ROE) hit 15.6%, and its net profit rose by 37%, commented the group's CEO, François Bloch.
Andrei Chirileasa · Journalist
· Updated · 1 min read
BVB-listed BRD Groupe SocGen (BRD) financial group achieved "excellent financial performance" last year when its return on equity (ROE) hit 15.6%, and its net profit rose by 37%, commented the group's CEO, François Bloch.
In absolute terms, the Group's earnings hit RON 1.32 bln (EUR 260 mln). Out of this, the bank generated RON 1.28 bln profit (+34.4% YoY).
The annual revenues of the BRD group were RON 3.12 bln, up 1% compared to 2020, and the gross operating profit remained stable at RON 1.5 bln.
"Lending activity was intense, while the dynamics of savings were marked by increasing volumes and greater diversification," François Bloch explained, News.ro reported. "Our business activity has been excellent in all lines of business," he added.
The Board of Directors proposes to distribute as dividends 70% of the distributable net profit related to last year.
BRD's shares rose 0.96% to RON 21 on February 10, upon the release of the FY 2021 results, corresponding to a market capitalisation of RON 14.6 bln (EUR 2.9 bln).
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