BCR reports net profit of 446 million Euro, up 30.6 percent in the first nine months

BCR achieved a net profit of RON 2,217 million (EUR 446 million) in the first nine months of 2024, up by 30.6 percent against RON 1,698 million (EUR 344 million) in 1-9 2023, driven by improved operating result underpinned by advance in customer business.

Operating result improved by 22.2 percent to RON 2,841 million (EUR 571 million) in 1-9 2024, from RON 2,324 million (EUR 471 million) in 1-9 2023, on the back of strong increase in operating income and well managed operating expenses.

Net interest income increased by 19.5 percent to RON 3,190 million (EUR 641 million) in 1-9 2024, from RON 2,671 million (EUR 541 million) in 1-9 2023, driven by higher business volumes.

“We are constantly learning what matters to our clients and to Romanians. Together we learn how to lead the conversation about money in order to build prosperity in every community, for everyone. Our results are directly linked to the experience we manage to deliver and the impact we create in society. We are encouraged by more than 1.5 million Romanians who have gone through BCR’s financial literacy programs – Money School and Financial Coaching. Also, we are counting on our investments in digitizing operations, which helped us make banking accessible anywhere and anytime, but also on more than 5,200 projects and entrepreneurs who were financed and supported by us in the first nine months of the year.

The quality of our assets and the expansion of our balance sheet in strategic sectors – such as energy, agriculture and industrial production – confirm the trust we enjoy from those who create value in Romania, people with whom we think and develop the future,” said Sergiu Manea, CEO BCR.

Operating income increased by 16.2 percent to RON 4,461 million (EUR 897 million) in 1-9 2024, from RON 3,839 million (EUR 777 million) in 1-9 2023, driven by all major income components.

General administrative expenses reached RON 1,620 million (EUR 326 million) in 1-9 2024, up by 7.0 percent in comparison to RON 1,514 million (EUR 307 million) in 1-9 2023, on the back of higher other administrative expenses mainly IT, consultancy and marketing costs, while personnel expenses declined.