Romania’s third-largest bank by assets BRD SocGen reported its net profit increased by 20.8 % y/y to RON1.22bn in January-September, backed by robust corporate lending, leading to an annualised return on equity (ROE) ratio of 20.9% up from 16.7% in the same period last year.
The bank’s market capitalisation rose by 4% upon the release of the January-September financials, to RON12.2bn (€2.5bn).
BRD reported a 10% y/y rise in its stock of loans (leasing receivables included), sustained to a larger extent by robust lending activity in the corporate segment, while the dynamic in the retail segment was solid but within a market posting a very limited growth, reflecting the impact of tightening financial conditions, higher interest rates and rising uncertainties on perspectives.
Financing of corporates continued to show a strong dynamic, with the stock of loans surging at a double-digit pace of 20.0% y/y, while the net retail loans were up by only 4.1% y/y.
Salt Bank SA, Romania’s first neobank, attracted 230,000 customers within its first few months of operations, the bank announced following the approval of its interim financial statements by the ... more
BRD Groupe Société Generale group, which operates Romania's fourth-largest bank by assets, reported its net profit dropped by 4.6% y/y in Q1, but said ... more
The European Bank for Reconstruction and Development (EBRD) announced that alongside debt recovery specialist APS it is taking over a ... more