The bank reported an operating profit of RON1.22 billion, 14% higher on the year.
Net interest income grew 15.5% in the first nine months, to RON1.51 billion, due to increased market rates and a large volume of loans and current accounts. Net income from commissions and fees grew 2.8%, to RON530.4 million, and net income from trading operations grew 15.9%, to RON325.8 million.
Operating revenue grew 12.8%, to RON2.43 billion.
General administrative expenses grew 11.6% in the first nine months, to RON1.21 billion, impacted by higher staff spending and investments in a new headquarters and IT projects.
The bank’s cost-to-income ratio stood at 49.8% in January-September, compared with 50.3% in the same period last year.
Loans to customers grew 7.4%, to RON35.98 billion, compared with end-2017. Retail lending grew 12.5% year-on-year, while corporate lending grew slightly, the bank said.
Deposits stagnated at RON52.63 billion end-September compared with RON52.49 billion end-2017.
BCR’s non-performing loan (NPL) ratio stood at 6.8% at the end of September, compared with 10.5% end-September 2017. Its NPL coverage ratio stood at 93.8% in September.
The bank’s solvency ratio under IFRS stood at 21% in August, well above central bank requirements of 8%.