BCR posted a 9-month net profit of 845.8 million lei, up by 142 percent compared to 348.8 million lei in the first nine months of 2019, the bank said in a release, according to AGERPRES.
"BCR recorded a net profit of 845.8 million lei (175.2 million euros) in the first 9 months of 2020, compared to 348.8 million lei (73.6 million euros) in the year-ago period, due to a higher operating result and a significant advance in new loans, partially offset by higher risk costs. The net profit in 2019 was affected by the creation in the second quarter of the year of an exceptional provision related to the activity of BCR Banca pentru Locuinte," the release states.
Loans and advances to customers increased by 4.7 percent to 41.935 billion lei (8.606 billion euros) as of September 30, 2020 from 40.049 billion lei (8.373 billion euros) as of December 31, 2019, on the back of growth in both retail lending (+6.8 percent compared to December 2019) and corporate lending (+2.4 percent compared to December 2019).
Customer deposits increased 5.2 percent to 60.796 billion lei (12.477 billion euros) as of September 30, 2020 from 57.791 billion lei (12.082 billion euros) as of December 31, 2019, supported by growth in both retail deposits (+6.1 percent compared to December 2019) and corporate deposits (+1.5 percent compared to December 2019).
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