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Romania BRD Bank says it turned to profit in 2014
February 12, 2015 / 7:12 AM / 3 years ago

Romania BRD Bank says it turned to profit in 2014

BUCHAREST, Feb 12 (Reuters) - Romania’s second-largest bank, BRD, controlled by France’s Societe Generale , reported a net profit of 43.2 million lei ($11.00 million) for 2014 on Thursday, after posting a loss in the previous year.

The bank recorded a loss of 385.8 million lei in 2013.

BRD said its non-performing loans edged down to 20.3 percent in December from 24.9 percent in the previous year, under international financial reporting standards, due to “the implementation of an active write off and sale policy.”

Its coverage of non-performing loans rose to 71 percent at the end of last year, from 69 percent at end-2013. ($1 = 3.9270 lei) (Reporting by Luiza Ilie)

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