BRD's net profit, down 13.7% in first half of the year
The net profit of local lender BRD-Groupe Societe Generale went down by 13.7 percent in the first half of the year, to around EUR 88.6 million. Its net banking revenues was 7 percent higher, to EUR 422 million.
The bank's activity is affected by the prolonged economic crisis, which translates into a slower rate of demand for banking products and through a higher net cost of risk,” said Guy Poupet, president and general manager of French – owned BRD - Groupe Societe Generale.
The bank had EUR 11.1 billion of assets at the end of June this year, down 2 percent compared to mid-2009.