The lender said its operating revenue grew 1.6% in 2020, to RON3.54 billion, driven by net interest income and trading income.
“Adaptability and resilience were our main key words both at the business and personal levels,” said bank CEO Sergiu Manea.
The lender’s operating profit grew 5.1% in 2020, to RON1.87 billion.
It said net interest income grew 5.1%, to RON2.37 billion, driven by larger volumes of loans and deposits on both the retail and corporate segments, partly offset by a low interest environment.
Net income from commissions dropped 9%, to RON710 million, due to a lower volume of cash withdrawals and the bank’s elimination of cash withdrawal commissions during the state of emergency in April and May.
Net trading income grew 1.2% in 2020, to RON356.5 million, mainly due to increased trading activity.
The bank’s non-performing loan (NPL) rate stood at 4.5% in December 2020, from 4.1% in December 2019, mainly due to a one-off exposure to a large corporate customer that turned non-performing in the second quarter of the year.
BCR said its NPL provisioning rate reached 122.5% in December 2020.
The bank’s loan activity grew 7.4% in 2020, to RON43 billion, driven by 6.9% growth in retail loans and 7.8% growth in corporate loans.
Customer deposits grew 12.3%, to RON64.8 billion. Deposits from retail customers grew 10.9%, while deposits from corporate customers grew 16.4% on the year in 2020.