BCR achieved net profit of 232.5 million Euro in first nine months

BCR achieved a net profit of 232.5 million Euro in first nine months of 2021, up by 35.0 percent against RON 845.8 million (EUR 175.2 million) in 1-9 2020, on the back of both improved operating performance mainly due to higher business volumes and lower risk costs allocation. 

Operating result improved by 12.3 percent to RON 1,576.7 million (EUR 321.0 million) in 1-9 2021 from to RON 1,403.7 million (EUR 290.8 million) in 1-9 2020, on the back of higher operating income along with lower operating expenses.

Net interest income slightly improved by 1.1 percent to RON 1,797.6 million (EUR 366.0 million) in 1-9 2021, from RON 1,778.6 million (EUR 368.5 million) in 1-9 2020, driven by higher loan and deposit volumes in both retail and corporate, partly offset by lower market rates.

Net fee and commission income strongly increased by 23.6 percent, to RON 620.0 million (EUR 126.2 million) in 1-9 2021, from RON 501.7 million (EUR 103.9 million) in 1-9 2020, on the back of higher transactional business.

Net trading result increased by 4.2 percent, to RON 267.4 million (EUR 54.4 million) in 1-9 2021, from RON 256.7 million (EUR 53.2 million) in 1-9 2020, mainly driven by higher trading activity.

Operating income increased by 6.0 percent, to RON 2,776.9 million (EUR 565.3 million) in 1-9 2021, from RON 2,618.5 million (EUR 542.5 million) in 1-9 2020, driven by higher business volumes.

General administrative expenses reached RON 1,200.2 million (EUR 244.3 million) in 1-9 2021, down by 1.2 percent in comparison to RON 1,214.8 million (EUR 251.7 million) in 1-9 2020, mainly due to positive impact from the deconsolidation of CIT One subsidiary and optimisation of retail branch network as well as slightly lower contribution in 2021 to deposit insurance fund.

“Beyond the numbers and the financial results, in such moments of reflection, we look at the real impact and positive changes our projects are bringing to the society. We continue to actively develop the pillar of financial education and have placed practical savings tips for the general public at the heart of our communication this autumn, in order to contribute as directly as possible to increasing the financial resilience of Romanians.

Our aim is to act as an anchor that provides security to the economy, both by supporting the state guaranteed programmes and the European funds, and through tailor-made financing solutions. We see projects, ideas and the desire for development, as well as the need for modernisation and evolution, as along with well-prepared people. The proof of this are more than 4,000 companies financed this year, a third of the loans being investments, as well as the signing of the collaboration agreement between BCR and ROREG to accelerate the absorption of investments from European funds for Romania SA and Romania SRL. The business environment has often managed in the last 30 years to be a benchmark in difficult times, and we understand to stay close to society and to the issues relevant to Romanians, including the support for the vaccination campaign, for the safety and health of all of us”, said Sergiu Manea, CEO of Banca Comercială Română