BCR group's net profit up by 21.4% in first 6 months y/y

The group’s profit reached 464.6 million lei (139.5 million euros), while its profit in the first semester last year stood at 382.2 million lei, the lender said. The profit increase was mostly pushed by a 23.3 percent jump of operational incomes in the first semester, from 1,176.1 million lei to 1,450 million lei, which significantly compensated the 19.5 percent increase of general administrative expenditures.

“I am confident we will continue to strengthen our position on the Romanian market”, BCR executive president Nicolae Danila said, adding the lender’s aim is to carry out its objectives in the clients’ best interest.

The profit increase was also driven by a significant growth of credits. However, the lender’s operational spendings rose 19.5 percent, mostly because the expansion of its territorial network with 34 units in the first semester of the year, BCR said.

Total assets rose 5.8 percent from 47,435.8 million lei at the end of last year, to 50,165.1 million lei after the first three months of the year.

BCR was purchased last year by Austria’s Erste Bank. The Austrian lender announced earlier this year its top priority is the BCR integration according to Erste’s standards.