The bank’s assets stood at RON49.2 billion at the end of 2015, up 8.8% from RON45.2 billion at the end of 2014.
The bank, a unit of France’s Societe Generale, said its net banking income increased by approximately 2% each quarter in the past three quarters, but fell 4.4% in 2015 compared with 2014, to RON2.5 billion, due to low interest rates.
The bank’s operating costs dropped 2.3%, to RON1.297 billion,and the cost to income ratio stood at 51.7%.
BRD lowered its non-performing loans (NPLs) ratio from 20.3% end-2014 to 17.1% end-2015, writing off depreciated receivables.
The bank’s loan portfolio was relatively stable in 2015, with just a slight 0.6% decline compared with 2014. Mortgage loans grew 12.7% on the year, retail lending grew 21.8%, and corporate lending grew 9.2%, the bank said.
Deposits increased 13.9% on the year in 2015. The bank’s net lending to deposit ratio reached 66.4%, down 9.6 percentage points compared with end-2014.