BRD Results as at September 30, 2013: Net profit of RON 51 million

06 Nov 2013

The key figures of BRD-Groupe Société Générale as at September 30, 2013 at stand alone level, according to the International Financial Reporting Standards:

Net banking Income of RON 2,059 million, down 5.6% versus the similar period of 2012;
High operational efficiency: low C/I ratio (46.1%, stable compared to 9mths 2012), - 5.5% in operational expenses against 9 mths 2012;
Net Cost of Risk: - 10.5% against 9 mths 2012;
Net profit of RON 51 million

The evolution of the Romanian banking market during the third quarter of the year was not comforted by the general macro-economic conditions, the demand for loans remaining low. However, the retail market continued to capitalize especially on the “Prima Casa” program.

The BRD stock of gross loans to customers was of RON 34.4 billion as at September 30, 2013, lower by 5.1% compared to September 30, 2012. The loans to individuals increased by 1.4% compared to September 30, 2012 (versus a decrease for the banking system of 2.3%). This positive evolution was mainly supported by the housing loans which increased by 25.6% over the last 12 months (compared to the +8.4% for the banking system). The stock of corporate customers’ loans (RON 17.0 billion) registered a decrease of 10.9% against September 30, 2012.

Deposits were, at end of Q3 2013, up 6.6% against September 30, 2012, reaching RON 33.8 billion. Individuals’ deposits slightly decreased by 0.8% compared to December 31, 2012, and by 2.0% compared to September 30, 2012, mainly due to a decrease in foreign currency deposits.

Corporate deposits increased by 12.9% compared to December 31, 2012 and by 16.0% compared to the same period of last year, driven by the dynamic growth of local currency deposits (+19.9% versus September 2012).

Consequently, the net loans to deposits ratio further improved and reached 87.7%, lower by almost 16 points against September 30, 2012.

The Net Banking Income stands at RON 2,059 million, down by 5.6% compared to same period of last year, mainly due to the decrease in the net interest margin (-9.9%), negatively impacted by both structure and volume effects. Operational expenses were reduced by 5.5%, and the C/I ratio was of 46.1%. The Net Cost of Risk decreased by 10.5% compared to September 30, 2012.

The net profit for the 9 months ended as at September 30, 2013 was of RON 51 million.

The interim report is available to the public and investors on the website of the bank: www.brd.ro. 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 Boulevard, 1st district, Bucharest.

BRD-Groupe Société Générale is Romania’s second bank in terms of assets and no. 1 on the syndicated loans market. BRD Groupe Société Générale has 2.3 million customers and operates a network of approximately 900 branches. With more than 2.3 million valid cards and an acceptation network of more than 21,600 POS and 1,500 ATMs, BRD is no. 1 on the banking cards market. With factoring operations exceeding 1 billion EUR in 2012, BRD is the leader of the Romanian factoring market.

BRD is part of the Société Générale, one of the largest European financial services groups. The group has 154,000 employees in 76 countries and 32 million clients throughout the world, in three core businesses:

- Retail banking in France

- International retail banking, financial services and insurance

- Corporate & investment banking, private banking, asset management and securities services

Search form

BRD Results as at September 30, 2013: Net profit of RON 51 million