It said growth was due to improved operating profit, lower risk costs and growth on all business lines.
The bank’s assets grew 0.85% on the year in 2018, to RON71.53 billion.
Its operating profit stood at RON1.63 billion, 21.7% higher than in 2017, due to higher operating revenue, which grew 13.8%, to RON3.28 billion.
Net interest income grew 16%, to RON2.047 billion, due to increased market rates and a large volume of loans and current accounts. Net income from commissions and fees grew 0.9%, to RON706.8 million due to higher maintenance revenue and cash and cashless transactions. Net income from trading operations grew grew 26%, to RON446.8 million.
General administrative expenses grew 6.9% in 2018, to RON1.65 billion, impacted by higher staff spending, seasonal and marketing expenses.
BCR’s cost-to-income ratio stood at 50.2% in 2018 compared with 53.5% in 2017.
BCR’s non-performing loan (NPL) ratio stood at 5.8% end-2018 from 8.1% end-2017 and its NPL coverage ratio stood at 100.3% end-2018.
The bank’s solvency ratio under IFRS stood at 21% end-December 2018, well above central bank requirements of 8%.
Loans to customers grew 8.7%, to RON36.4 billion in 2018, mainly due to retail lending growth, while corporate loan stock grew marginally.
Customer deposits grew 5%, to RON55.09 billion, mainly due to retail customers.