BCR Group recorded a net profit of RON 620 million (EUR 125 million) in the first quarter (Q1) of 2024, up 10.1% compared to 563 million RON (EUR 114 million) in the same period of 2023, due to an improved operational performance, supported by a higher volume of business with clients.
The operating result improved by 20.3% to 918 million RON (185 million euros) in Q1 2024, from 763 million RON (155 million euros) in Q1 2023, on the back of higher operating revenues, partly compensated by higher operating expenses.
Net interest income increased by 17.1% to 1.034 billion RON (208 million euros) in the period January – March 2024, from 883 million RON (180 million euros) in the same period of 2023, determined by a larger volume of business together with a larger volume of financial assets.
According to the source, net commission income improved by 15.4% to 254 million RON (51 million euros) in Q1 2024, from 220 million RON (45 million euros) in Q1 2023, driven by revenues from higher commissions from insurance, maintenance, as well as from a larger volume of payments with and without cash.
Operating income increased by 13.5% to 1.423 billion RON (286 million euros) in the first quarter of 2024, from 1.253 billion RON (255 million euros) in the same period of 2023, driven by net revenues from interest and net income from higher commissions.
The rate of non-performing loans stood at 2.6% in March 2024, down from the level of 2.9% recorded in December 2023.
Also, the solvency rate of BCR (only the bank) in accordance with the regulations on capital requirements (CRR), was at the level of 22.3% in February 2024, significantly above the requirements of the National Bank of Romania.
Net loans and advances granted to customers increased slightly by 0.9% to 59.252 billion RON (11.914 billion euros) on March 31, 2024 from 58.743 billion RON (11.806 billion euros) on 31 December 2023, supported by the growth in the retail segment.
Net loans and advances of Customer deposits increased by 5.3% to 82.644 billion RON (16.617 billion euros) on March 31, 2024, from 78.482 billion RON (15.773 billion euros) on 31 December 2023, supported mainly by the increase in corporate deposits. Credits to customers increased slightly by 0.9% to 59.252 billion RON (11.914 billion euros) on March 31, 2024 from 58.743 billion RON (11.806 billion euros) on December 31, 2023, supported by the growth in the retail segment.
Customer deposits increased by 5.3% to 82.644 billion RON (16.617 billion euros) on March 31, 2024, from 78.482 billion RON (15.773 billion euros) on 31 December 2023, supported mainly by of the increase in corporate deposits.
Banca Comerciala Româna (BCR), a member of Erste Group, is one of the most important financial groups in Romania, including universal banking operations (retail, corporate & investment banking, treasury and capital markets), as well as profile companies on the market of leasing, private pensions and housing banks.
According to website https://www.bcr.ro/ro/investitori/structura-actionariat, the BCR shareholders are: Erste Group Bank AG 99.8899%, Romanian legal entity shareholders (including SIF Muntenia and SIF Banat-Crisana who hold one share each) 0.0015%, other individual shareholders 0.1086%.
AGERPRES
