Net profit is expected at RON237.6 million, people close to the bank told Mediafax.

In January through September 2012, BCR reported a loss of RON556 million at bank level, hurt by higher provisions.

The lender estimates operating profit of RON2.38 billion in 2013, while provisions for loans and down payments are seen at RON1.97 billion.

Overall lending is expected to grow by RON3.5 billion to RON56.26 billion in December 2013, while total deposits are estimated to increase by RON4.6 billion to RON42.7 million.

BCR bank is part of BCR group, which also comprises BCR Banca pentru Locuinte, BCR Administrare Fond de Pensii, BCR Leasing, BCR Asset Management, BCR Securities, Anglo Romanian Bank Limited and BCR Chisinau.

Last month, BCR’s chief executive officer Tomas Spurny said the group would lay off 1,600 employees over the next 12 to 18 months and would close over 60 local units, as part of a larger cost-cutting strategy.

The move is expected to bring savings of around EUR250 million in the next two years, Spurny said.

BCR currently employs 9,100 staff. (EUR1=RON4.3481)