It reported an operating profit of RON729.8 million, 3.6% higher compared with RON704.7 million in the first half of 2016.
The bank’s non-performing loan (NPL) ratio dropped to 11% compared with 14% in June 2016 and 23.1% in June 2015. It said its NPL coverage ratio reached 92.1%.
BCR sold new retail and corporate loans totaling RON4.1 billion in the first six months. On the retail segment, BCR granted new loans totaling RON2.6 billion, largely supported by mortgage loans under a government-backed guarantee program for first time home-buyers. On the corporate segment, it sold new loans totaling RON1.5 billion.
The bank’s net interest income decreased 6%, to RON878.73 million, from RON934.7 million in the first half of 2016, on continued portfolio clean-up efforts and a low-interest environment.
Operating revenue declined 2.3% in the first half, to RON1.439 billion, from RON1.473 billion in the same period last year, mainly due to low interest and fee income, partly offset by higher trading income.
Deposits from customers decreased 2.1%, to RON47.2 billion end-June, from RON48.235 billion end-December 2016, due to a drop in corporate deposits.