September 25, 2018

BRD net profit falls on high risk cost

The net profit of BRD – Groupe Societe Generale fell by 87.8 % year-on-year to RON 39.4 million ( EUR 8.8 million) in the first semester, after the net cost of risk more than doubled to RON 714 million from the previous quarter due to a drop in value of guarantees on bad loans. The net interest income fell by 8.5 % to RON 933 million (EUR 209 million), while the net commission income lost 1 % to RON 375 million (EUR 84 million). BRD’s operational income was down by 5.7 % to RON 1.4 billion (EUR 313 million), while operational expenses fell by 2.4 % to RON 689 million (EUR 154 million). The bank invested EUR 8.2 million in the first semester, mainly for upgrading the IT and network infrastructures. The lending activity gained 5 % versus the 1.7 % growth in the banking system to RON 35.2 billion (EUR 7.8 billion), while deposits added 13 % to RON 32.9 billion (EUR 7.3 billion). BRD’s assets lost 1.9 % to RON 47 billion (EUR 10.6 billion) and the lender’s total debt went up by 1.6 % to RON 41.9 billion (EUR 9.3 billion).

Source: Business-Review () Enjoy the kitkat on your device lets start the guide on how to update asus transformer prime tf201 to android 4

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