BCR’s operating result stood at RON440.1 million in the first quarter of 2020, 33% higher than in the year-earlier period, due to significant recoveries from non-performing customers.
BCR’s interest income grew 9.4% on the year to RON597.9 million in the first quarter of 2020, fueled by large loan volumes on the retail and corporate customer segment.
Net fee and commission income dropped nearly 6.6% on the year to RON163.6 million in the first quarter of 2020, due to a lower volume of fees from transactions and from the lending activity.
BCR’s operating revenue increased by 6.4% on the year to RON852 million in the first quarter of 2020.
General administrative expenses fell 12.3% on the year to RON411.9 million in January-March 2020, due to a lower annual contribution to the deposit guarantee fund and a reduced depreciation. Thus, the cost-to-income ratio reached 48.3% at the end of the first three months of 2020.