May 4, 2018 / 5:24 AM / 6 months ago

Romania's BRD bank net profit jumps 27.8 pct y/y in Q1

BUCHAREST, May 4 (Reuters) - Romanian lender BRD Groupe Societe Generale

* Says the bank records net profit of 392.4 million lei ($100.86 million) in the first quarter, up 27.8 percent on the year, while the BRD Group’s net profit was 414 million lei, up 26 percent, driven by “healthy revenue generation, quasi-stable operating expenses and positive cost of risk.”

* Says the number of customers rose by 37,000, reflecting a 5.0 percent rise in net loans and 6.0 percent rise in deposits.

* Says the ratio of non-performing loans fell to 6.2 percent at the end of March from 10.3 percent in the same period of last year.

* Says BRD maintained a capital adequacy ratio of 19.3 percent.

* Francois Bloch, CEO of BRD Groupe Societe Generale: “The first quarter of 2018 was very dynamic as shown by the continuous increase in loans, deposits and transaction volumes which, together with the favorable interest rate context, translated into a double-digit increase in net banking income.” Further company coverage: ROBRD.BX ($1 = 3.8905 lei) (Reporting by Luiza Ilie)

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