BCR achieves net profit of 845.8 million RON in first nine months of 2020

BCR has achieved a net profit of 845.8 million in the first nine months of 2020 from 348.8 million RON in 1-9 2019 underpinned by higher operating performance and significant advance in new lending, partly offset by higher risk costs. The net profit in 2019 was affected by significant one-off provision allocation related to the activity of BCR Banca pentru Locuinte booked in Q2 2019.

In retail banking business, BCR generated total new loans in local currency to individuals and micro businesses of 6 billion RON mainly driven by standard mortgage and cash loans.

Cash loan sales decreased by 4.4% yoy in 9M 2020, however up by 50% qoq partly recovering after Q2 economic lockdown in the pandemic context. Mortgage new sales strongly up by 38% yoy in 9M 2020 fully driven by standard product, while state-guaranteed mortgage loan sales down yoy due to late approval of the new conditions. New loans to micros down by 12.4% yoy in 9M 2020, though up by 69% qoq.

“2020 has been a year of fast change, adapting to what the future should have brought in a few years. This year has not been BCR’s first storm, nor was it our first time running a marathon in a record time. It has been a new kind of challenge, and I am grateful to our customers and our team for their contribution and dedication in reinventing banking on fast forward and united. We supported our customers, listening and learning from them, with customized solutions, financial and entrepreneurial education. Furthermore, we transformed George, the intelligent banking platform, in one of the most complete and evolving digital banking ecosystems, based on the main indicator that drives progress in the industry – customer experience”, stated Sergiu Manea, CEO Banca Comercială Română.

Accelerated digitization:

1,75 million users for internet and mobile banking, out of which over 1 million unique active users in George, up by 60% as compared to 9M 2019

The number of digital transactions in George increased by 112% yoy in 9M 2020

95% of the new savings accounts in 9M 2020 were opened through George platform

23,000 cash loans granted on fully digital flow since the beginning of the year, reaching 29% of the total number of cash loans

Support for customers in the current context:

Deferred instalments for 39,000 loans for individuals, of which only 11,000 have still an active payment holiday agreement, and for 500 loans for companies, majority choosing BCR solution.

Over 4.100 companies were supported through new loans, financing through the SME Invest programme and credit extensions