Romanian lender BRD Groupe Societe Generale turns to profit in first quarter after loss in 2012

BRD, Romania's second largest bank by assets, ended the first quarter of the year with a net profit of EUR 3 million, down 84 percent on the same period of 2012. The bank's net revenues during this period were down by 10 percent, to some EUR 157 million, while its loans portfolio was of EUR 7.9 billion, down one percent on end - 2012. The net revenue was mainly affected by the negative evolution of the interest margin, according to the bank. The first quarter profit came after a loss of EUR 72 million in 2012, mainly because of the deterioration in the loans portfolio. The bank's assets were at EUR 10.3 billion at the end of the first quarter, with a market share of 12.5 percent. The assets were down by 5.5 percent during the first quarter. BRD is majority owned by French Groupe Societe Generale and is listed on the Bucharest Stock Exchange. editor@romania-insider.com