BCR - net profit of 697 mln lei in H1 2018

The Romanian Commercial Bank (BCR) recorded in the first half of 2018 a net profit of 697 million lei (149.7 million euro) and an operating result of 740.9 million lei (159.2 million euros), BCR representatives inform on Tuesday in a press release issued for AGERPRES.

BCR recorded a steady advance of more than 50pct in retail lending compared to H1 2017, consolidating its position as the main banking partner of the Romanians who want to buy a house, holding more than 20pct of the loans extended in H1 2018.

The share of non-performing loans (NPL) dropped to 6.7pct, compared to 8.1pct in December 2017, with the NPL coverage ratio reaching a very comfortable level of 95.3pct in June 2018, compared to 92.7 pct in December 2017.

BCR's solvency ratio was 22.2pct in May 2018 (bank), while the Tier 1+2 capital (BCR Group) accumulated a value of 7.7 billion lei in March 2018.

In retail banking, BCR generated new loan volumes of 4.1 billion lei in H12018, on the basis of the 40pct increase in the "Diverse" personal loan and an equally important increase in the sales of real estate loans, including the standard home credit "My Home" as well as the "First House" loans.

Sales for micro-companies rose by more than 60pct over the same period last year, supported by the revised current account offer in the StartUp Nation government program.

In the corporate sector, the portfolio of newly extended loans amounted to 568 million lei, with a 16pct increase in the funding for small and medium-sized enterprises (SMEs), as a result of the pro-active strategy, compared to the same period of last year in the support for local entrepreneurs as well as the increase registered in the leasing activity.

The co-financing of the projects developed with European funds remained solid, with a portfolio of co-financing of 8.2 billion lei.AGERPRES (RO - author: Carmen Marinescu, editor: Andreea Marinescu; EN - author: Bogdan Gabaroi, editor: Simona Iacob)

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