BCR net earnings up 71.8 percent in Q3

The bank's assets rose 4 percent by the end of September, compared to the end of 2007, up to €16.6 billion, financial data published by BCR show. At the end of last year, bank's assets amounted to €16.5 bln. 

BCR's loan portfolio amounted to €11.6 billion, 17.3 percent higher compared to the end of 2007. The higher increase in loans, compared to assets growth, shows that BCR allocated more resources to its core operations, by lowering interbank placements and financial assets, according to a bank press release. 

BCR's owner, Erste bank, posted €1.463 billion in net earnings for the first nine months of 2008, 74.6 percent higher year-on-year. Its assets amouted to €209.4 billion, €4.4 percent higher compared to the end of 2007. The figures take into account the funds obtained after the sale of its insurance division. Without that figure, net earnings would have amounted to €861.7 million for January-September.