It reported an operating profit of RON1.07 billion, 0.4% higher than in the first nine months of 2016, mainly due to lower operating expenses.
The bank’s non-performing loan (NPL) ratio dropped to 10.5% end-September from 13.3% end-September 2016 and 22.2% end-September 2015. It said its NPL coverage ratio reached 94% end-September, while coverage including guarantees reached 125.5%.
On the retail segment, BCR granted new loans totaling RON4.1 billion, supported by mortgage loans under a government-backed guarantee program for first time home-buyers.
On the corporate segment, it sold new loans totaling RON1.9 billion.
The bank’s net interest income decreased 3.3% in the first nine months, to RON1.31 billion, on continued portfolio clean-up efforts and a low-interest environment.
Net income from commissions and fees declined 3.2% in the first nine months, to RON515.77 million, due to lower volumes of cash withdrawals in bank offices due to higher internet banking penetration.
Net income from trading operations grew 11.2% in January-September, to RON281.07 million.
Operating revenue declined 1.2%, to RON2.15 billion, mainly due to low interest and fee income, partly offset by higher trading income.
Deposits from customers decreased 1.2% in the first nine months, to RON47.64 billion, from RON48.23 billion end-December 2016.