Banca Comerciala Romana (Romanian Commercial Bank - BCR), the largest bank on the Romanian market totalled 5bn euros (202,116bn ROL) in assets at the end of the first half of 2004, while its net profit amounted to 89 million euros (3,613bn ROL).
The financial results of the second largest bank in the system, BRD, are due out in two weeks, allowing an impression to be formed of the market trends witnessed in the first half. This could possibly lead to changes in the market share ranking, in terms of the value of assets.
The credits granted by BCR stood at 90,000bn ROL at the end of June, 10.8% more than on December 31, 2003 and 38.25% more than in late June 2003.
The share of the private sector with regard to total non-governmental credits rose 4.2% from December 2003 and 9.6% from June last year, now standing at 91%. The IMF data shows that the BCR had the highest exposure to state-owned enterprises at the end of the first quarter, as more than 35% of its credits had been granted to this client category.
Over one third (34%) of the credits were taken out by small and medium-sized enterprises. The loans granted to individuals accounted for 29% of the total portfolio, and were worth more than 26,000bn ROL, 108.3% higher than in December 2003.
BCR's equity, meanwhile, increased 6.1% compared with late 2003, reaching 31,983.5bn ROL.
The bank's return on equity (ROE) stood at 20.7% and its return on assets (ROA) amounted to 3%. The bank's management set out to attain 150 million-euro net profit for this year and an 8.6% asset increase from the 4.7bn euros logged at the end of last year.
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