BRD underlines the difficult market context it has been operating in, but it succeeded reaching a net banking revenue worth 1.636 billion lei (387 million euros), by almost 17 percent higher on June 30, 2008.
The gross exploitation profit is worth 919 million lei (217 million euros), by 19.4 percent more than in the first half of 2008.
The loans total 32.2 billion lei (7.6 billion euros), by 11 percent more than on June 30, 2009, while the cost/revenues ratio stood at 43.8 percent.
The net risk cost went up to 408 million lei (96 million euros) from 151 million lei (41 million euros) in the first half of 2008.
The clients’ deposits grossed 29.1 billion lei at the end of the first half of 2009.
Own capital efficiency (ROE) stood at 22.3 percent, whereas the cost /revenue ratio kept the level of 43.8 percent, late in H1.
General expenditures remain well controlled, their growth being mainly due to the impact of the EUR/RON exchange rate.
The first half of the year 2009 was witnessing a strong slowdown in the credits demand and a bigger increase in the risks, both in terms of individual clients and the Small and Medium Sized Companies. Such a situation shows the recession range in the H1.
In the context BRD succeeded preserving its results at a satisfactory level. Thank to the efficiency of its internal proceedings, and the measures taken to curb the general spending and the quality of its portfolio, BRD proved its endurance capability, said BRD President Patrick Gelin.
The euro conversion was achieved for the profit/loss account based on the average exchange rate calculated for the first six months of the year at 4.2293 leu to 1 euro, and for the balance sheet based on the BNR exchange rate, on June 30, 2009 of 4.2067 lei to 1 euro.
BRD- Groupe Societe Generale numbered 2.6 million customers in end June 2009. The bank issued 2.2 million cards and operates a network of 1,400 ATMs and 20,000 POSs. Its assets totaled 49.5 billion lei (11.7 billion euros) late in June 2009.
BRD- Groupe Societe Generale is the second biggest bank in Romania in terms of its assets and holds the second largest bourse capitalization with the Bucharest Stock Exchange (BVB).
BRD belongs to the Groupe Societe Generale, one of the biggest groups supplying financial services in the euro zone. The Group numbers over 160,000 employees worldwide in three key activities, namely Retail banking and financial services, Global Investment Management & Services, Corporate & Investment Baking.