BCR expecting better 2009 macroeconomic results in Romania

The macroeconomic results of Romania will be better in 2009 than in 2008, Banca Comerciala Romana Executive Chairman Dominic Bruynseels said in a recent TV statement.

He said that Q3 and Q4 2009 figures will look better than in Q4, 2008, when they look bad. He is also expecting the banks’ operational profit to improve.

Bruynseels admitted that there are still problems in the real economy, with small and medium-sized enterprises and with individuals. He said people will be laid off in the public sector and problems will emerge, because some 30,000-40,000 of the laid off will be clients of BCR.

The bank, he said, has to think about how to help them solve their problems.
He mentioned that unemployment is also a concern, but BCR will have an innovative approach of the issue and will try to make sure people will be protected.

BCR’s business turnover continued to be good, but its aggregate net profit after taxes and minority interests was down 20.1 percent from H1, 2008, at RON 606.8 million (144.2 million euros) in H1, 2009, mainly because of higher spending on provisions and falling earning from commission fees generated by decreased public consumption.

BCR’s operational results rose to RON 1.364 billion (324.2 million euros), up 13.2 percent from H1, 2008 and 7.9 percent from H2, 2008. The main engine for the rise was a strong growth of 9.5 percent in its operational revenues.

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