You have 3 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Erste's Romanian unit BCR Group net profit jumps 51% y/y in H1

Erste's Romanian unit BCR Group net profit jumps 51% y/y in H1 Banca Comerciala Romana (BCR) Source: BCR

BUCHAREST (Romania), August 1 (SeeNews) - Romania's Banca Comerciala Romana (BCR) Group, part of Austria's Erste Group, said on Monday that its net profit jumped 50.9% year-on-year in the first half of 2022, reaching 1.042 billion lei ($215 million/ 211 million euro).

The rise in profit was supported by an improved operating result underpinned by continued strong loan growth, BCR Group said in a press release communicating its first-half unaudited consolidated results.

The group's operating result rose by an annual 25.2% to 1.27 billion lei in the first six months of 2022 on the back of improved operating income, partly offset by higher operating expenses.

Net interest income grew by 13.9% on the year to 1.36 billion lei during January-June, while net trading result increased 74% to 302.5 million lei. Net commission income increased by 17.6% to 451.3 million lei.

The non-performing loan (NPL) ratio decreased to 3.5% at end-June from 3.9% at end-2021, while NPL coverage ratio was 149.5% at end-June.

Loan volume grew by 10% year-on-year to 52.6 billion lei in the first half of 2022, while deposits decreased by 2.7% to 70.5 billion lei.

BCR Group comprises lenders Banca Comerciala Romana and BCR Banca pentru Locuinte, BCR Pensii, BCR Leasing IFN and BCR Chisinau.

(1 euro=4.9287 lei)

Banca Comerciala Romana SA is among the biggest banks in SEE, for more reference take a look at Top 100 banks