BRD Group reported a net profit of 1.016 billion RON in the first 9 months of this year, higher by 10.3% in annual dynamics, leading to a return on equity of almost 17%, compared to the level of 13% obtained in the same period last year, according to a press release sent by the Bucharest Stock Exchange, Agerpres reports.

„In the first nine months of 2022, BRD recorded a solid performance in all lines of activity, despite a challenging economic context. The momentum of lending remained at a high level. Lending to natural persons with housing loans went further, new production being 21% higher. The market share on consumer loans remained resilient in the conditions of a market slowdown, after the record year 2021. Corporate lending had a remarkable performance (+31% compared to the same period of last year), supported by both of its pillars, with an extraordinary increase in lending both to the SME segment and to large companies. BRD was actively involved in government programs to support the economy, with approved loans amounting to 1.4 billion RON in the first semester of 2022 (the IMM Invest program was no longer operational after the end of June). Supporting the economy will continue within the new IMM Invest Plus program, which started in October 2022. Guided by the constant desire to improve the experience of our customers, we have diversified our digital offer, making possible the access to 100% online issuance of credit cards, as well as instant payments,” said Francois Bloch, CEO, BRD Groupe Societe Generale.

The non-performing loan ratio remained at a record low of 2.6% (compared to 3.2% at the end of September 2021) and the provision coverage continued to increase to 78% (compared to 75% at the end of the month September 2021).

Agerpres