"Lending activity recorded a double-digit growth on an annual basis, although the pace slowed down during third quarter. The contribution from corporate segment, built on both SMEs and large corporates, is particularly remarkable. Retail lending was more dynamic on consumer, marking new record levels, while demand for housing loans remained influenced by weakening market given high rates environment," said Maria Rousseva, Deputy CEO of BRD Groupe Societe Generale.
Net interest income rose to 1.91 billion lei during the nine months through September, on the back of the good dynamic of lending activity and higher interest rates on asset portfolio, from 1.62 billion lei a year earlier.
Net fees and commissions income dropped to 540.4 million lei at the end of the third quarter, from 549.4 million lei in the like period last year.
The bank's loan portfolio and customer deposits both expanded by 9.9% the year to 39 billion lei and 60.8 billion lei, respectively.
BRD's bank total assets rose to 77 billion lei at the end of September from 71.5 billion lei at end-2022.
BRD has 432 branches in Romania, 38 fewer than at the end of the same period in 2022.
The bank's net profit rose by 0.5% to 1.285 billion lei in 2022.
BRD's shares traded 2.61% higher at 17.32 lei by 1542 CET on Friday on the Bucharest bourse.
(1 euro=4.96936 lei)