BRD GROUP RESULTS FOR H1 2026: RESILIENT commercial momentum

Press release
Bucharest, July 30th, 2026 

Main commercial trends and financial indicators of BRD Groupe Societe Generale at June 30th, 2026 at consolidated level, according to the International Financial Reporting Standards (IFRS):
➢ Resilient business dynamics, in a fragile economic environment
• net loans outstanding (including leasing financing), +11.6% YoY as of June 2026 end, driven by both corporate and retail segments (+16.5% YoY and +8.0% YoY, respectively)
• solid deposit base, +4.1% YoY, with retail balances up by +7.4% YoY, providing a stable and granular source of liquidity
• BRD Asset Management continues to hold a top position within Romania’s UCITS market, with assets under management (AUM) of RON 10.6 billion at June 2026 end, +46% YoY
• continued expansion in the use of e-banking services, reflected in the rising number of YOU BRD users, to 1.96 million, +11% YoY as of June 2026 end and increasing volumes of transactions, + 22% YoY in H1 2026
➢ Supporting clients’ transition to environmentally sustainable business models
• sustainable finance production reached EUR 2.63 billion as of June 2026 end, cumulated since 2021
• Joint Green Bank Coordinator in the financing of the Pestera II wind project which represents another significant step in strengthening Romania’s renewable energy generation capacity
• launch of CalEA BRD, a program dedicated to supporting women entrepreneurs
➢ Consistent financial performance: gross operating income RON 1,112 million in H1 2026 (+4.2% YoY)
➢ Continued cost discipline: C/I down to 49.6% in H1 2026 (-115 bps YoY) and 43.3% excluding tax on turnover
➢ Solid loan book quality: NPL ratio of 2.7%; comfortable NPL coverage: 65.6% as of June 2026 end
➢ Net cost of risk: limited increase net provisioning YoY in H1 2026, on the combined effect of portfolio evolution and review of macroeconomic expectations
➢ Net profit of RON 784 million, +2.5% YoY, adjusted ROE of 17% in H1 2026, excluding tax on turnover
“In the first half of 2026, BRD Group continued delivering resilient results despite a challenging environment marked by elevated macroeconomic pressures, geopolitical uncertainty, persistent high inflation, and increased tax burden. Throughout this period, BRD Group remained focused on supporting its customers, while advancing optimization and efficiency initiatives aimed at adapting to a rapidly evolving and highly competitive environment and fostering sustainable long-term value creation.
BRD Group commercial momentum remained solid, with net loans outstanding, including leasing, increasing by c. 12% year-on-year, driven by robust activity across both retail and corporate segments. Lending to individuals and large corporates continued to grow at a healthy pace, demonstrating the strength of our franchise and our ability to accompany customers' financing needs.
At the same time, we continued to enhance our digital ecosystem. By regularly enriching the YOU BRD mobile application with new functionalities, we are further improving customer experience and engagement. This is reflected in the sustained growth of our digital customer base and transaction volumes.
BRD Group delivered higher revenues, while maintaining disciplined cost management, sound asset quality, and solid capital and liquidity positions. Despite an increasingly demanding operating environment, BRD Group recorded a net profit of RON 784 million, up 2.5% year-on-year, demonstrating the resilience of our business model and the continued commitment of our teams.", said Maria ROUSSEVA, CEO of BRD Groupe Société Générale.
Disciplined growth despite macroeconomic headwinds
Net loans outstanding, including leasing financing, reached RON 58.3 billion, increasing by +11.6% YoY (out of which net outstanding of leasing financing advanced by +1.6% YoY). Growth was recorded across both corporate and retail client segments despite persistent macroeconomic headwinds. Corporate lending stood out as the primary driver of portfolio expansion (+16.5% YoY) supported by strong activity in the large corporate segment. Retail loans also made a solid contribution, with net loans outstanding increasing by +8.0%, underpinned by resilient demand for housing loans.
In the first half of 2026, BRD continued to expand its sustainable finance transactions, with a cumulative production of EUR 2.63 billion since 2021, including EUR 304 million in H1 2026, and took on key roles in sustainable structuring, both independently and in cooperation with Societe Generale. Thus, BRD participated, alongside other international and local financial institutions, in the financing of the Pestera II wind project, owned by investment funds managed by Copenhagen Infrastructure Partners (CIP). The project represents another significant step in Romania’s energy transition and in strengthening the country’s renewable energy production capacity. As part of the transaction, that secured a total financing package of approximately EUR 510 million, to which BRD contributed EUR 72 million, the Bank acted, together with Societe Generale, as Joint Green Bank Coordinators, providing advisory services on the integration of the LMA Green Loan Principles into the transaction structure. BRD also played a key role in the financial risk hedging component associated with the financing.
As part of its commitment to ESG objectives, BRD further strengthened its role as a trusted financial partner through the launch and promotion of CalEA BRD, a program dedicated to supporting women entrepreneurs, for the first time on the Romanian banking market. The financial component includes a comprehensive range of products and services designed to support day-to-day operations and business growth plans: current account packages for both individuals and legal entities, savings solutions, digital and cash management services, as well as lending options, guarantees, and access to financing programs. These solutions are designed to provide flexibility and control, regardless of whether the business is in its early stages or already well established.
In May 2026, BRD and Startarium also launched a partnership that helps entrepreneurs make their businesses grow. Startarium is a platform that brings together mentoring, practical tools, and relevant resources for different stages of a business journey. Through this partnership, BRD provides tangible support to entrepreneurs who want to build for the long term by offering free access to Startarium Premium for one year, which includes access to more than 100 mentors from a wide range of industries, an AI Digital Coach integrated into business tools and other practical resources for entrepreneurs.
Total deposit base reached RON 73.7 billion, up by +4.1% YoY, with higher inflows from private individuals. Retail deposits, a stable and granular funding source, rose by +7.4% YoY due to higher collections from the private individuals’ segment. Corporate deposits decreased by -1.1% YoY mainly reflecting balance sheet adjustments driven by liquidity considerations, market conditions and large corporates’ fluctuating business funding needs.
BRD Group offers a diversified suite of traditional savings, investment and financial protection services, including asset management, life insurance and unit-linked solutions, enabling its clients to meet a broad range of liquidity, investment and long-term financial planning needs. Alternative saving solutions maintained a solid performance during the first half of 2026. BRD Asset Management, which manages 12 investment funds for over 207,000 clients (+25 thousand YoY) holds a top position within Romanian UCITS market, with a 23.9% market share at May 2026 end, and total assets under management reaching RON 10.6 billion, up by +46% YoY, as of June 2026 end.
Digital banking continues to drive customer engagement, supported by accelerated rollout of new functionalities
Customer engagement through digital channels increased further, reflected in the growing number of YOU BRD users (1.96 million at June 2026 end, +11% YoY) and higher number of transactions via YOU BRD (22 million, +22% YoY), totaling RON 35.2 billion (+22% YoY). In addition, 62% of YOU BRD users were enrolled in the cashback loyalty program with a cumulative RON 4.8 million cashback granted over 2 years since its launch.
BRD continued to enhance the YOU BRD digital ecosystem by introducing several new customer-centric functionalities. These included the launch of travel Insurance for standard cardholders, the integration of Click to Pay for simplified and secure online card payments, and the availability of pre-approved Expresso consumer loans directly within the mobile application. In addition, BRD expanded its insurance offering through the introduction of RCA insurance purchase capabilities in YOU BRD Mobile, strengthened its digital onboarding process by enabling the use of the new Electronic Identity Card (CEI) with chip for remote customer identification and application activation, and implemented State Treasury payment functionality, enabling clients to include mandatory fiscal payment details, as required for such transactions.
Collectively, these enhancements broaden YOU BRD's functionalities, integrating lending, payments, insurance, and remote customer identification within a seamless mobile experience. YOU BRD ongoing focus on innovation and user experience has been recognized nationally, with YOU BRD winning “Voted Product of the Year® 2026 for Innovation” in the Online Banking category, award granted through direct consumer voting, based on an independent market study.
At the same time, BRD further streamlined its branch network, albeit at a more moderate pace recently, aiming to ensure an optimal mix between its physical footprint and remote channels. The total number of branches reached 334 as of June 30th , 2026 (-23 YoY), while offering 24H self service capabilities for cash transactions in 268 locations.
Resilient financial performance
During H1 2026, BRD Group’s revenues reached RON 2,206 million, up by +1.8% YoY, demonstrating the resilience of the franchise in a challenging and highly competitive operating environment.
Net interest income, accounting for 70% of net banking income, totaled RON 1,548 million in H1 2026, +1.4% YoY, reflecting sustained balance sheet expansion, which was partly offset by margin compression mainly related to lower loan yields and rising funding costs.
Net fees and commissions amounted to RON 452 million in H1 2026 (vs. RON 453 million in H1 2025), remaining broadly stable year-on-year. Growth in client activity and solid revenues from custody, brokerage and asset management business, and off-balance sheet commitments, were offset by lower service fee income, reflecting lower service income following inactive accounts clean-up.
Other banking income reached RON 206 million, higher by +9% YoY, mainly reflecting higher revenues from associates and an one-off revenue.
Despite persistent double-digit inflation and the twofold increase of the tax on turnover, operating expenses decreased by 0.5% YoY in H1 2026, supported by disciplined cost management and the absence of contributions to the Deposit Guarantee Fund and Resolution Fund (FGDB&RF) in 2026. Staff expenses declined by 8.3% YoY, reflecting the Group's optimisation of the workforce and operating model in a rapidly evolving and highly competitive environment. Excluding the turnover tax and FGDB&RF cumulated contributions for 2025, other operating expenses rose by 3.1%, mainly driven by higher IT&C spending reflecting depreciation of past investments and ongoing infrastructure and digitalization initiatives. Meanwhile, the turnover tax owed for the January-June 2026 period doubled compared to H1 2025, reaching RON 139 million (equivalent to 4% of gross revenues) vs. RON 66 million in the prior-year period.
Against this backdrop, BRD Group's gross operating income increased by 4.2% YoY to RON 1,112 million in H1 2026.
The cost-to-income (C/I) ratio improved to 49.6%, compared with 50.7% in H1 2025. Excluding the turnover tax and FGDB&RF cumulated contributions for 2025, the C/I ratio would have stood at 43.3% in H1 2026, compared with 45.4% in H1 2025, representing an improvement of 214 bps YoY.
The loan book quality continued to remain solid during H1 2026, with the Bank’s NPL ratio reaching 2.7% at June 2026 end, below the banking system average of 2.9% as of May 2026 end, while maintaining a comfortable Bank NPL coverage level (65.6% at June 2026 end). Net cost of risk shows limited increase compared to the same period of the last year, with RON 147 million net provision allocation vs RON 142 million in H1 2025, on the combined effect of portfolio evolution and review of macroeconomic expectations.
BRD Group delivered a net result of RON 784 million in H1 2026, up 2.5% year-on-year from RON 764 million in H1 2025. Excluding the turnover tax impact, ROE stood at 17.0%, compared with 17.3% a year earlier, reflecting the Group's resilience amid intense competition and a demanding operating environment.
BRD standalone capital adequacy ratio is at a comfortable level of 22% as of June 2026 end, stable versus June 2025 end (excluding quick fix). BRD Group financial results for the period ended June 30, 2026 are available to the public and investors on the website of the bank, www.brd.ro, beginning with 9h00. 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. Notes: NPL ratio, NPL coverage ratio (acc to EBA), at Bank level Capital adequacy ratio at June 2026 end is preliminary. If not stated otherwise, all variations are vs. H1 2025 (for income statement related items) or June 2025 end (for balance sheet-related items). BRD - Groupe Societe Generale operates a network of 334 units. Total assets of the Bank at June 2026 end amounted to RON 96.3 billion. BRD is part of the Societe Generale Group, one of Europe's leading financial services groups and a major player in the economy for over 160 years. The group has around 110,000 employees in 58 countries and more than 27 million customers worldwide and is built on three complementary business lines, embedding ESG offerings for all its clients:
• French Retail, Private Banking and Insurance
• Global Banking and Investor Solutions
• Mobility, International Retail Banking and Financial Services
www.brd.ro LinkedIn Media contact: Traian Traicu_traian.traicu@brd.ro