Retail and SMEs raise BRD’s profit by 54% in Q1

“With a return on equity (ROE) of 31 percent, we are still the most profitable bank in Romania,” said BRD CEO, Patrick Gelin.

The results exceed estimates by analysts. BRD shares increased 3.27 percent on the Bucharest Stock Exchange (BVB) yesterday, rising 6.76 percent in the last two BVB sessions.

“BRD maintained good profitability for the first quarter. During this time, they were more careful and controlled risks better. We maintain the buy recommendation for BRD shares,” said ING Bank Romania Transactions Manager, Florin Ilie.

Net income from interest increased 34 percent, while income from exploitation advanced 30 percent. The data published by the bank is unconsolidated.

By the end of March, the bank's loan portfolio was worth RON 28 billion (€7.5 bln), 44 percent higher year-on-year. Deposits advanced 33 percent, to RON 27 billion (€7.2 bln). Daca ti-a placut articolul, urmareste MONEY.ro pe FACEBOOK!