The final loss BRD posted from bad loans backed by a realcollateral (mainly mortgage-backed ones) reaches 5% of their value,states Guy Poupet, BRD chairman. In the case of unsecured loans,the bank periodically transfers to specialised debt collectioncompanies loan packages included in the bad loan category, with therecovery rate amounting to at least 10%. In the past three years,BRD has sold such loans worth above 100m euros. At the same time,more than 400 people in the bank have assigned overdue loanmonitoring and collection duties. Poupet says the core target forthis year is to continue lending operations, in a manner adapted tomarket conditions. "Lending, product and services offer adjustmentand maintained profitability will be the main directions thisyear". He specified the bank needed to maintain its profitabilityto ensure its development and retain its clients' confidence.Almost two months since his appointment at the helm of BRD, theFrench banker believes there are no reasons for sweeping reforms atthe bank, but says BRD will profit from the current slow businessperiod to boost procedure and operation efficiency.
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