August 2, 2018 / 5:44 AM / a year ago

Romania's BRD Group net profit up 34.5 pct y/y in H1

BUCHAREST, Aug 2 (Reuters) - Romanian lender BRD Groupe Societe Generale

* Says the bank records net profit of 766.7 million lei in the first half, while the BRD Group’s net profit was 757 million lei ($190.98 million), up 34.5 percent.

* Says net banking income rose 10.5 percent on the year, reflectting positive volume effects and a favourable interest rate environment.

* Says the ratio of non-performing loans stood at 6.3 percent at the end of June compared with 8.8 percent in the same month of last year, while the coverage ratio was 73 percent.

* Says BRD Group registered a cost of risk write-back of 154 million lei.

* Says BRD maintained a capital adequacy ratio of 18.8 percent.

* Francois Bloch, CEO of BRD Groupe Societe Generale: “In the first half of 2018, commercial performance remained robust, particularly on retail business, as shown by growing loan and deposit volumes and rising number of transactions, generating solid profitability. Our online and mobile offers are being continuously refined and expanded, proactively meeting the requirements of all of our customers, including the most digitally astute ones.” Further company coverage: ROBRD.BX ($1 = 3.9637 lei) (Reporting by Luiza Ilie)

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