The bank said its earnings are due to a massive cut in provision costs, which stood at RON55 million in the first nine months compared with RON4.05 billion in the same period in 2014.
BCR reported an operating profit of RON1.2 billion, 23.5% lower than in the corresponding period last year.
The bank’s assets dropped to RON60.02 billion from RON61.62 billion at the end of 2014, still it remains the largest lender in the country by assets.
The bank’s non-performing loans ratio stood at 22.2%, down from 26.5%, despite write-offs and NPL sales. Its NPL coverage ratio stood at 79.1%, the bank said.
New guaranteed retail loans increased 17% on the year in the first nine months. Of these, mortgage loans under the government-backed First Home program increased 48%, while personal loans grew 11%. On the corporate segment, the bank’s new loans portfolio amounted to RON2.2 billion in January-September, while the total lending volume remained stable, due to a 1.7% growth on the SME segment.
Deposits declined slightly by 0.5%, to RON39.73 billion, the bank said.
Net revenue from interests declined 15.5%, to RON1.5 billion, from RON1.78 billion in the first nine months of 2014.
The bank’s solvency ratio under local standards stood at 19.8% in August, above the central bank requirement of at least 10%.