In the first six months of 2013, BRD reported a net profit of RON62 million. The results are calculated according to international accounting standards.
BRD said net risk costs fell 25.3% to RON492 million in the first half of 2014, from RON659 million in the year-earlier period. Non-performing loans ratio decreased to 23.4%, versus 24.8% in December last year.
The bank’s operating profit fell 15% year-on-year to RON636 million, largely due to an 8.6% decline in operating income. Operating costs inched down 0.9%, helped by lower personnel expenses.
BRD said total loans decreased 4.2% on the year to RON32.5 billion in the first six months, due to a 12% decline in corporate lending, but overall deposits were up 4.9% to RON34.2 billion.
End-June, BRD reported total assets of RON45.1 billion, down from RON47.08 billion in December 2013.
The bank’s return on equity rose to 4.6% at the end of June, from 2.2% in the year-ago month.
BRD runs 915 offices in Romania and employs around 8,800 staff, according to bank data. French financial group Societe Generale is the bank’s main shareholder, with a 60.16% stake.
Thursday, BRD closed down 1.1% at RON9 a share in Bucharest, valuing the bank at RON6.27 billion. (EUR1=RON4.4188)