BCR’s net earnings attributable to the majority stockholder dropped from a profit of EUR122.5 million in the first half of 2018 to a net loss of EUR24.6 million in the first half of 2019.
BCR Group’s operating profit grew 8.9% in the first half, to EUR149 million.
Erste constituted the EUR150.8 million provision after the Romanian supreme court overturned a decision in favor of Romania’s Court of Accounts versus BCR Banca pentru Locuinte. The court ruled the home loan savings bank had illegally accepted clients aged under 18 and over 65, thus benefiting from illegal state premiums.