BRD Groupe Societe Generale's nine-month profit in Romania shrinks by 19%

Lender BRD Groupe Societe Generale posted a net profit of EUR 90 million after the first nine months this year, down by 19 percent compared to the same period in 2010. The net cost of risk also decreased, to EUR 214 million, down 14 percent over the same period in 2010, while the bank's operating expenses grew by 1 percent. Lower demand for loans brought BRD’s total volume of loans down 3 percent, to EUR 7.61 billion. The bank reported a decrease on the deposits side as well. The total volume of the customers’ deposits went down slightly from the same period last year, to a level of EUR 6.86 million. BRD Groupe Societe Generale is the second largest bank in Romania based on total assets. The lender had around 2.4 million customers and a network of 1,500 ATMs at the end of September this year. Irina Popescu, irina.popescu@romania-insider.com (photo source: Corina Saceanu/romania-insider.com)