BRD, the second-largest bank on the Romanian market in terms ofassets had a 39% cost/income ratio in the first half of the year,from 43.8% a year earlier, in the context where net banking income(from the interest rate margin and from commissions) rose by a mere7%, while general costs fell by 5%.
Guy Poupet, chairman of the bank, says internal cost cuttingmeasures contributed to a "very solid cost/income ratio".
"Profitability of the banking activity in general remained abovethe banking system average - with operating performances - anincrease in the net banking income, being proof of the fact thatthe bank's business model is a viable one, which works well even inthe context of a prolonged economic crisis," said Poupet.
The average number of employees amounted to 8,429, down by 71against a year ago. Under the circumstances, employee pay costswere cut by 3.1%, to 244 million RON (56 million euros), resultingin an average cost per employee per month of 4,846 RON.
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