BCR's 9-month net profit goes up 35 pct to 1.14 bln lei

BCR's operating profit increased 12.3 percent to 1.57 billion lei (321.0 million euros) in the first 9 months of 2021 from 1.4 billion lei (290.8 million) a year ago, against higher operating revenues and lower operating expenses, Agerpres informs.

Net interest income inched up 1.1 percent to 1.797 billion lei (366.0 million euros) from 1.778 billion lei (368.5 million euros) in the first nine months of 2020, due to higher loan and deposit volumes on both the retail and corporate customer segments; the result was partially offset by the impact of lower money market interest rates.

There was a strong increase in the net fee income to 620 million lei (126.2 million euros), 23.6 percent higher YoY, due to a higher volume of transactions.

The bank's net trading result increased by 4.2 percent to 267.4 million lei (54.4 million euros), mainly due to a more intense trading activity. The operating income was 6 percent up to 2.776 billion lei (565.3 million euros) due to a higher turnover.

According to the cited source, the ratio of non-performing loans was 4 percent in September 2021, down from 4.5 percent in December 2020.

Loans and advances to customers increased 8.3 percent to 46.573 billion lei (9.413 billion euros) as of end-September 2021, from 43.002 billion lei (8.833 billion euros) as of December 31, 2020.

Customer deposits were 1.2 percent up to 65.677 billion lei (13.272 billion euros) as of September 30, 2021, from 64.876 billion lei (13.326 billion euros) as of December 31, 2020.