The BRD Group recorded a net profit of 1.142 billion lei after the first nine months of 2018, higher by 7.1 percent as opposed to the same period of last year, while the bank reported a net result of 1.137 billion lei, higher by 8.9 percent, according to the Interim Financial report sent on Thursday to the Bucharest Stock Exchange.
Adjusted with the non-recurring elements regarding the cost of risk, the net profit of the group was 1.073 billion lei, higher by +28.2 percent, while the net profit of the bank was 1.068 billion lei, up 31 percent.
The return on equities was 20.9 percent in the first 9 months of 2018 (as opposed to 20.5 percent during the first 9 months of 2017) and the return on assets reached 2.8 percent (from 2.7 percent in the first 9 months of 2017).
Total deposits recorded an advance of 2.1 percent as opposed to the end of September 2017. The deposits of individuals (higher by 7.2 percent from the similar period of last year) represented the main growth engine in the context of the increase of the available income. Non-retail deposits dropped in the context of a favorable liquidity position registered by the Bank.
"During the first 9 months of 2018, BRD Group consolidated its income rise on the main categories. The net banking income kept on improving, by 11.1 percent, as compared to the similar period of last year, due to solid growth of the the net income from interests, of net income from commissions and other income categories. The net income from interests was 15.5 percent higher, supported by the growth of volumes on the retail segment, as well as by the higher interest rates in lei (the average of the three-month ROBOR was 2.64 percent during the first 9 months of 2018, from 0.88 percent in the first 9 months of 2017). Net income from commissions went up by 3.1 percent due to the higher volume of transactions, dynamic card activity and rising income from custody and insurance services. The Other income category grew by 7.1 percent, mainly due to the increase of the trading results," the Group's document further shows.
On 30 September 2018, the Bank had 745 agencies, that ensure the distribution of its products and services throughout the entire country.
BRD is part of the Groupe Societe Generale Group, one of the largest European financial services groups.
BRD Group, net profit up 7.1 percent, in first nine months
Sursă foto: brd.ro
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