April 30 (SeeNews) - Romania's Banca Comerciala Romana (BCR) Group, part of Austria's Erste Group, said on Tuesday that its consolidated net profit rose 10.1% year-on-year in the first three months of 2024, reaching 620 million lei ($133.3 million/124.6 million euro).
The rise in profit was driven by an improved operating result, helped by improving customer business, BCR said.
Net interest income grew by 17.1% on the year to 1.034 billion lei during January-March, while net trading result dropped by 9.4% to 124 million lei. Net fee and commission income increased by 15.4% to 254 million lei.
The non-performing loan (NPL) ratio decreased to 2.6% at end-March from 2.9% at end-2023, while NPL coverage ratio with provisions was 187.1% at end-March.
Loan volume inched up 0.9% to 59.252 billion lei in the first quarter of 2023, from 58.743 billion lei at end-2023, supported by an increase in the retail segment. Deposits from customers rose 5.3% to 82.644 billion lei, from 78.482 billion lei at end-2023, supported by an increase in corporate deposits.
BCR Group comprises lenders Banca Comerciala Romana and BCR Banca pentru Locuinte as well as BCR Pensii, BCR Leasing IFN and BCR Chisinau.
(1 euro=4.97565 lei)
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