BCR reached net profit of 354 million Euro, up 23.8 percent in 2022

BCR Group announced its financial results for 2022, with a net profit of 1.74 billion RON (354 million Euro) in 2022, up by 23.8 percent against 1.4 billion RON (286.5 million Euro) in 2021, driven by improved operating result underpinned by continued strong loan growth.

„In 2022, we continued to stand by our customers and provide solutions to adapt to the new economic realities through informed decisions, while Școala de Bani (The Money School), our financial education program, reached 600,000 people. We have encouraged a responsible behavior in relation to money and predictable financing through lending in RON with flat rates, along with life and income insurances, as we have consistently done over the last years. With 100 percent of the stock of unsecured loans benefiting from a fixed interest throughout the entire period of the loan, and 75 percent of the portfolio of secured loans having a fixed interest in the first 5 to 10 years of the period, 2022 was the moment when our prudential recommendations proved to be effective and valid for our customers. Moreover, the last few years have brought us all in front of a succession of shocks, in a climate of economic uncertainty. In this context, we have assumed and evolved in our role to be at the service of people and the economy, to provide a benchmark of predictability, stability, and resilience,” said Sergiu Manea, CEO Banca Comercială Română.

“The results achieved are a confirmation of the trust placed in us by almost 3 million clients and are supported by 5,300 colleagues from BCR, who manage to make a difference for the better in society every day. These results also represent the real and recognized contribution we offer to all our partners, and this requires us to continue investing in education, digitalization, and human capital development. We will leverage resources to facilitate the transition to a green and digital economy, which helps Romanian entrepreneurs to be relevant in the international value chain. At the same time, we support and offer counseling services for the absorption of European and national funds, as an essential step in the sustainable development of Romania, including jobs creation. In 2022, we have more than 202,000 individual customers who have chosen our financing products and 6,500 financed companies, which provide more than 360,000 jobs. We believe that developing prosperity in society is about collaboration, about what we can do together. And, at BCR, clients and colleagues alike, we sustainably build financial health at a personal, business and community level, every day.”

Operating result improved by 29.0 percent to RON 2,735.5 million (EUR 554.7 million) in 2022 from RON 2,120.1 million (EUR 430.8 million) in 2021, on the back of improved operating income, partly offset by higher operating expenses.

Net interest income increased by 21.7 percent to RON 2,948.7 million (EUR 597.9 million) in 2022, from RON 2,422.1 million (EUR 492.2 million) in 2021, driven by higher business volumes coupled with higher market rates.

Net fee and commission income increased by 8.8 percent to RON 944.2 million (EUR 191.5 million) in 2022, from RON 867.9 million (EUR 176.4 million) in 2021, driven by higher transactional business as well as higher fee income from lending and brokerage.

Net trading result increased by 64.3 percent, to RON 630.1 million (EUR 127.8 million) in 2022, from RON 383.5 million (EUR 77.9 million) in 2021, on higher trading activity.

Operating income increased by 21.7 percent, to RON 4,615.5 million (EUR 935.9 million) in 2022, from RON 3,791.7 million (EUR 770.5 million) in 2021, driven by all major income components.