BRD-SocGen made 792 million RON (187 million euros) in netprofit last year, down 41% against the record-high profit of 2008,in part because of the sale of its Asiban stake. This is probablythe highest net profit made in 2009 on the banking market accordingto Romanian accounting standards, despite the over 7% economicdecline.
The bank was barely able to preserve the same volume oflending as in 2008, ending the year with 2% growth in nominalterms, to 34.8 billion RON (8.3 billion euros), with 52% beingloans to companies.
Almost 6% of overall loans had to be restructured to enabledebtors to continue to repay their loans, with restructured loansaccounting for 10.5% of corporate loans, i.e. 1.9 billion RON.Non-performing loans rose to 10.5% of the total, compared with amarket average of 15.4%. Amid a rise in the number of bankruptciesin the economy, the number of corporate clients fell by 13,000,while the number of retail clients fell by 51,000.
"Considering the extremely unfavourable economic context, ourresult was more than satisfactory, and it shows the bank's strengthand soundness despite the significant decline of loans and thedegradation of asset quality," said Guy Poupet, president ofBRD-SocGen.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
