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Find out more »Safekeeping, registering, monitoring and controlling the applications for subscription or redemption of fund units.
Find out more »Distribution of fund units, dividends and bond payments. Group distribution services within public offerings.
Find out more »Administration availability of customer accounts to their instructions - financial instruments operations or cash.
Find out more »Clearing services for transactions made on Bucharest Stock Exchange, Bucharest Clearing House and SIBEX.
Find out more »News and related materials of our current activity: from business press releases to cultural, educational, sport or technological projects
Find out more »is an online cultural publication that shapes the portrait of the new generation of creators
Find out more »is an editorial project dedicated to the pre-university education created by DoR and BRD
Find out more »Find here our mass media contacts
Find out more »We invest in culture because we need leaders and projects to remind us where we come from, who we are and where we are heading to.
Find out more »We strongly believe that the main driver for a higher performance of the education system is the quality of teachers. That’s why our majors programs are focussing on developping teachers’ skills.
Find out more »We love sports because they provide us with an exciting journey with some beautiful moments, heroes who win, attract new fans or, on the contrary, struggle with difficult moments.
Find out more »Economic development is no longer possible without environmental and social progress. It is our responsibility to propose business models that encourage the positive transformation of the world.
Find out more »Community involvement is designed to build sustainable intervention mechanisms so that children and young people in difficult situations can develop their skills
Find out more »02 Aug 2018
The main financial ratios of BRD Groupe Société Générale as at June 30, 2018 at consolidated level, according to the International Financial Reporting Standards (IFRS):
Dynamic business performance
The Romanian loan market growth (+5.1%* YoY in nominal terms at June 2018 end) was driven by individual customers’ segment given the rising wages and high employment levels, while corporate loan growth remained weak. Deposits rose by +11.1%*, sustained by both individuals and companies.
In this context, BRD’s business performance remained dynamic. Individual customers’ equipment rate (the average number of products per active customers) increased to 4.22 from 4.13 at June 2017 end. The stock of internet and mobile banking contracts for individual customers reached 1.47 million, +18% YoY. The number of MyBRD Mobile subscribers rose by +40%. In H1-2018, several enhancements were implemented on MyBRD Mobile platform: simplified invoice payment, screen customization for selected recently launched smartphones, as well as improvements of the settings menu.
Net loans were up by +2.8%* compared to June 2017 end, thanks to dynamic performance in retail banking. Retail loans increased by +6.1%* sustained mostly by housing loans (+11.1%*). Housing loan production went up by +8.3% driven by the strong demand for BRD’s housing loan product “La Casa Mea”.
Deposits increased by +1.8%* YoY, mainly on funds collected from retail customers. The rise in retail deposits (+6.8%*) was due to inflows in individuals’ current accounts (+26%*). The ratio of net loans to deposits was 67.3% at June 2018 end (+0.6 pts versus June 2017 end).
Strong increase in revenues
Revenue growth was solid, in the context of increasing volumes, particularly on the retail segment and supportive interest rate environment. Net banking income rose by +10.5% YoY sustained mostly by solid net interest income growth (+13.2%). The increase in net fees and commissions income (+3.2%) reflected the rising number of transactions, and increasing revenues from custody and depository services. Other net banking income increased by +13.5%, on higher trading result.
Operating expenses increased moderately versus H1-2017 (+2.8%). Staff costs were higher by +11.3%, as a result of compensation package adjustments in a tight labor market context. Other costs (excluding Bank Deposit Guarantee Fund and Resolution Fund contributions) were up by +5.7%, influenced by investments in regulatory projects and change-the-bank initiatives. The cumulated contribution to the Bank Deposit Guarantee Fund and Resolution Fund was halved on an annual basis.
Operational performance benefited from strong revenue generation, with gross operating result up +19.4% YoY. Cost/Income ratio reached 49.9%, lower by -3.7 pts YoY.
Loan portfolio quality continued to improve. The NPL ratio declined to 6.3% at June 2018 end versus 8.8% at June 2017 end, while the coverage ratio was solid at 73.0%, compared to 75.0% at June 2017 end (all ratios according to EBA methodology). BRD Group registered a cost of risk write-back of RON 154 million, lower by -42.8% due to high non-recurring elements booked in 2017. Non-recurring items were RON 65 million in H1-2018 (insurance indemnities) compared to RON 272 million in H1-2017 (insurance indemnities and gain on sale of non-performing loan portfolio).
In this context, net profit amounted to RON 757 million in H1-2018, higher by +34.5% excluding non-recurring elements, thanks to strong revenue growth and positive cost of risk. Return on equity reached 21.6% in H1-2018 (20.0%, excluding non-recurring items).
BRD maintained a comfortable capital adequacy ratio of 18.8% as of June 2018 end (at individual level, under Basel 3 regulations), versus 19.4% at June 2017 end, due to the evolution of revaluation reserves following the increase in bond yields.
“In the first half of 2018, commercial performance remained robust, particularly on retail business, as shown by growing loan and deposit volumes and rising number of transactions, generating solid profitability. Our online and mobile offers are being continuously refined and expanded, proactively meeting the requirements of all of our customers, including the most digitally astute ones. Looking forward, BRD will remain committed to financing the Romanian economy through a well-tailored offer, and will continue to refine its business model in order to deliver sustainable growth”, said Francois Bloch, CEO of BRD Groupe Société Générale.
BRD financial results for the six months ended June 30, 2018 are available to the public and investors on the website of the bank: www.brd.ro beginning with 09h00. Copies of the documents can also be obtained upon request, free of charge, at the head office of BRD Groupe Société Générale, located at 1-7, Ion Mihalache Bd., 1st district, Bucharest.
(*) Variations at constant foreign exchange rate
BRD - Groupe Société Générale operates a network of 754 units. BRD has a leading position on the card market with approx. 2.4m cards and a network acceptance of approx. 27,000 POS and more than 1,500 ATMs. Total assets of the Bank at June 2018 end amounted to RON 52.4bn.
BRD is part of the Société Générale Group, one of the largest European financial services groups. The group has 147,000 employees in 67 countries and 31 million customers worldwide in its three key activities:
French retail banking
International Retail Banking, Insurance and Financial Services to Corporates
Global banking and investor solutions
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We would like to remind you that BRD - Groupe Societe Generale has not requested and will never ask any of your authentication data (user code, password or password token) or confidential information related to your card (card number, expiration date, security code or PIN) by phone, nor e-mail or SMS.
These confidential data will be used only for the internet banking authentication or for online payments.
At the same time, if you notice a different appearance of the usual MyBRD Net application (ex. A notification message that the page is unavailable and you are invited to log in again, or to sync your token device), please stop the authentication process immediately and contact as soon as possible through MyBRD Contact tel: 021 302 6161.
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