In January through September 2011, BRD reported a net profit of RON446.6 million. The results are calculated according to international accounting standards.
BRD said net risk costs rose 58% to RON1.16 billion in the first nine months of 2012, largely due to the declining value of collaterals for non-performing loans.
Operating profit was RON1.17 billion, down 7% from the year-earlier period, BRD said in its financial report.
Net banking revenue fell 6% on the year to RON2.18 billion in the January-September period, hit by lower net interest margins.
On the other hand, total loans rose 8.1% on the year to RON36.2 billion in the first nine months, while overall deposits were up 5.4% to RON31.6 billion, BRD said.
End-September, BRD reported total assets of RON47.6 billion, down 2.3% from RON48.7 billion in December 2011.
The bank’s return on equity fell to 0.2% at the end of September, from 10.4% in the year-ago month.
BRD runs 937 offices in Romania and employs over 8,000 staff. French financial group Societe Generale is the bank’s main shareholder, with a 60.16% stake.
In a separate report, the bank announced Philippe Charles Lhotte was elected chairman of the board, one week after the central bank has approved his appointment as BRD’s chief executive officer and member of the board.
Tuesday, BRD closed down 0.65% at RON7.7 a share in Bucharest. (EUR1=RON4.5171)