The bank didn’t specify a target for this year’s net profit. In 2012, BRD has swung to a loss of 331 million lei (EUR75.3 million), versus profits a year earlier, hit by higher risk costs.
In its revenue and expenditure budget proposal, BRD said its objective for 2013 is “returning to profit…thanks to a reduced cost of risk.”
BRD expects banking income will increase 2% to roughly RON3 billion, from RON2.91 billion in 2012. Operating expenses are seen stable at around RON1.35 billion.
The lender forecasts a pretax operating profit of over RON1.6 billion in 2013.
Overall loans are expected to increase 7% year-on-year to RON37.1 billion, largely fueled by a 15% increase in housing loans and a growth of 10% in the corporate sector.
Deposits are seen advancing 11% to RON35.2 billion, from RON31.7 billion in the previous year.
BRD has a share capital of RON696.9 million, split into 696.9 million shares with a face value of RON1.
French Societe Generale holds a 60.17% stake in BRD, while Romania’s five regional investment funds SIFs own together a little over 22% of its shares.
On the Bucharest bourse Friday, BRD’s shares closed down 0.78% at RON8.905 a unit. (EUR1=RON4.394)