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