Erste’s Romanian subsidiary BCR reports 33% stronger profit in 2023

Romanian financial group BCR, part of Austria’s Erste Bank Group, reported a net profit of RON 2.32 billion (EUR 469 million) in 2023, up 33% compared to that of 2022, against the background of improved operational performance, supported by a higher volume of business with clients.

The operating income increased 14.3% to RON 5.27 billion (EUR 1.07 billion) in 2023, from RON 4.62 billion (EUR 936 million) in 2022, driven by stronger net interest income and higher fees collected. Specifically, the net interest income surged by 24%, up to RON 3.66 billion (EUR 739 million) in 2023, from RON 2.95 billion (EUR 598 million) in 2022.

The lending was not particularly intense, and the stock of loans advanced slightly slower than the inflation or the market’s average.

Net loans and advances granted to customers increased by 6.2% y/y, up to RON 58.74 billion (EUR 11.8 billion) at the end of 2023, supported by both retail and corporate segments.

(Photo source: Gabriel Petrescu/Dreamstime.com)