BRD sees profit down 36% in 2010, expects difficult 2011 in Romania

BRD - Groupe Societe Generale posted a net profit of EUR 119 million last year, a drop of 36 percent on 2009, the bank has announced. The group's net profit, which also includes BRD Sogelease and BRD Finance, was 31 percent lower than in 2009. “We think 2011 will stay a difficult year, especially in what concerns the high level of the net cost of risk. On the other hand, we remain confident in the fact that, on the long term, Romania should get back up on the sustainable growth curve,” said Guy Poupet, president general manager of BRD Societe Generale. The bank has 2.5 million clients in Romania and a network of 937 units in the country. editor@romania-insider.com