BCR reached net profit of 1.4 billion RON, up 73 percent in 2021

BCR achieved a net profit of RON 1,409.8 million (EUR 286.5 million) in 2021, up by 73.0 percent against RON 814.1 million (EUR 168.3 million) in 2020, on the back of both improved operating performance mainly due to higher business volumes and lower risk cost allocation. 

Operating result improved by 12.9 percent to RON 2,120.1 million (EUR 430.8 million) in 2021 from to RON 1,877.5 million (EUR 388.1 million) in 2020, on the back of higher operating income, while operating expenses marginally increased.

Net interest income slightly improved by 2.2 percent to RON 2,422.1 million (EUR 492.2 million) in 2021, from RON 2,371.0 million (EUR 490.1 million) in 2020, driven by higher loan and deposit volumes in both retail and corporate, partly offset by lower market rates.

Net fee and commission income increased by 22.2 percent, to RON 867.9 million (EUR 176.4 million) in 2021, from RON 710.0 million (EUR 146.8 million) in 2020, on the back of higher transactional business.

Net trading result increased by 7.6 percent, to RON 383.5 million (EUR 77.9 million) in 2021, from RON 356.5 million (EUR 73.7 million) in 2020, mainly driven by higher trading activity.

Operating income increased by 6.9 percent, to RON 3,791.7 million (EUR 770.5 million) in 2021, from RON 3,546.3 million (EUR 733.0 million) in 2020, driven by higher business volumes.

General administrative expenses reached RON 1,671.6 million (EUR 339.7 million) in 2021, similar to RON 1,668.8 million (EUR 344.9 million) in 2020 mainly due to higher investments in IT, partly compensated by deconsolidation of CIT One subsidiary as well as by further efficiency gains.
“My colleagues have 25,000 conversations with the public every day, whether face-to-face, by phone or online, which in one-year totals over 5 million advice, solutions and ideas for a better future. Over the past few years, we have changed how we interact with our clients, talking about financial intelligence and prudent decisions that people can make for themselves, their families, or their businesses.

Despite the pandemic, 2021 was a far better year for more than 5,600 companies in România SA and România SRL, that generate over 350,000 jobs, companies which chose to grow with us. We’ve also supported over 13,000 families, who moved to a new home, and I would like to thank to all our clients for giving us their trust. We appreciate their feedback, which helps us learn and improve the BCR experience. We strengthen our commitment to be a pillar that supports the economy and society, and we invest in large scale sustainable education and technology projects.

We stand for the new way of doing banking, helping our customers to avoid spending more than they earn, to be balanced and have control over their own money, knowing how to invest in creating long-term prosperity”, said Sergiu Manea, CEO Banca Comercială Română.