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The BRD Group obtained a net profit of approximately 1.34 billion RON in 2022, a slight increase compared to the result in 2021, when it reported almost 1.32 billion RON, while the bank's profit rose to 1.29 billion RON, according to the consolidated and individual financial statements as of December 31, 2022, submitted to the Bucharest Stock Exchange on Wednesday.
Return on own equity was 16%.
The annual revenues of the BRD Group reached 3.46 billion RON, by 11.7% higher than in 2021.
Operating expenses increased by 8.3% compared to 2021, excluding the higher level of contribution to the Guarantee and Resolution Funds.
Personnel expenses (+8.5% compared to 2021) were largely influenced by the effect of wage increases and changes in other benefits under the Collective Labor Agreement (especially meal vouchers) and the exceptional premium to compensate for the effects of inflation.
BRD granted new loans worth almost 7.5 billion RON for individuals, the portfolio of housing loans recording a record growth of 58% in annual dynamics. According to the bank's press release, 2022 was the second best year for new consumer loans.
The loan portfolio for companies increased by 26%, an evolution generated by both the SME segment (+43% in annual dynamics) and that of large companies (+19% in annual dynamics).
The Non-performing loans (NPLs) ratio was 2.5% (down from 3.1% in December 2021) and the year-end provision coverage level is 77%.
The loans granted by BRD under the SME Invest programme increased by 69% compared to 2021 and totaled 2 billion RON for over 2,000 eligible SMEs.
The deposit base was also consolidated, with company deposits increasing by 17.2%, driven mainly by large corporate customers. Retail deposits increased (+3.1% compared to 2021) in a competitive and tense context from the point of view of liquidity.
The leasing activity remained robust, with an annual growth of the portfolio of 15%, and the volume of sustainable financing granted last year amounted to almost one billion RON, including the first syndicated green loan in the real estate sector.
The Board of Directors of BRD decided that the granting of dividends from 2022's profit will not be submitted for approval to the Shareholders' General Meeting.
BRD - Groupe Societe Generale operates a network of 460 units. The total assets of the bank amounted, at the end of December 2022, to 72 billion RON.AGERPRES
