[ad_1]
today, 00:08 am
Author:
Anelis Baciu
♦ Interest income rose 9.5% as a result of loan advances and market interest rate increases ♦ New loans rose 15% to $ 4.7 billion lei.
The increase in credit production and the recovery of market interest rates have made BCR the best first half of the last decade, the group comprising the largest local bank with a net profit of 697 million lei. "In the coming period, we will intensify our efforts to provide competitive services, strengthen trusted relationships, and in particular promote responsible banking and credit services," said Sergiu Manea, CEO of BCR
. directed mainly to the sector, where BCR has granted loans worth 4.1 billion lei. The new business financing was almost seven times lower, ie 568 million lei. The total volume of new loans granted by BCR during the first six months of this year was about 15% higher compared to the same period last year. After loans granted in 2018, the total stock of BCR loans reached 35 billion lei. BCR claims that the new loans are of better quality, which has allowed BCR to release provisions of 30.1 million lei in the first half, against a provision expense of 61.6 million lei during the same period .
The increase in the loan portfolio and the recovery of interest rate increases in the market are reflected in the profit and loss account of BCR, the total operating profit of the bank increasing by 7% to 1.5 billion lei. The largest increase of 9.5% was recorded in interest income, which amounted to 962 million lei. Growth is described as "significant" by BCR and is also attributable to a greater volume of current accounts. In fact, BCR had anticipated the rise in interest rates in 2018.
As for assets, the BCR recorded an increase of 7% last year, totaling $ 70.2 billion. lei at the end of June 2018. The BCR Last year's market share was 15.8%, up from 16.3% at the end of 2016. The Austrian Erste Group, a shareholder of BCR, realized a net profit of 774 million euros in the first half of this year, 24% more than in the first half of 2017. Erste stock rose about 2% yesterday on the stock market Vienna, with a share traded at 37.2 euros. Erste has a market capitalization of 15.2 billion euros.
ZF Corporate is the business intelligence service of Ziarul Financiar. To access the information, you must subscribe to ZF Corporate or one of its 12 flows, profiled by business sectors (Banks, Retail, Agriculture, Energy and others) – see the presentation video of ZFCorporate. ZF Corporate subscription details: Alexandru Matei (phone: 0318.256.286) or send an email with your details to request information and a subscription to [email protected]. You will be contacted within one hour
Article published in the print edition of Ziarul Financiar dated 01.08.2018
[ad_2]
Source link
