SocGen's Romanian division boasts 21% ROE as its profit surges by 21% y/y in January-September

By bne IntelliNews November 21, 2023

Romania’s third-largest bank by assets BRD SocGen reported its net profit increased by 20.8 % y/y to RON1.22bn in January-September, backed by robust corporate lending, leading to an annualised return on equity (ROE) ratio of 20.9% up from 16.7% in the same period last year.

The bank’s market capitalisation rose by 4% upon the release of the January-September financials, to RON12.2bn (€2.5bn). 

BRD reported a 10% y/y rise in its stock of loans (leasing receivables included), sustained to a larger extent by robust lending activity in the corporate segment, while the dynamic in the retail segment was solid but within a  market posting a very limited growth, reflecting the impact of tightening financial conditions, higher interest rates and rising uncertainties on perspectives.

Financing of corporates continued to show a strong dynamic, with the stock of loans surging at a double-digit pace of 20.0% y/y, while the net retail loans were up by only 4.1% y/y.

Related Articles

Moldova’s largest lender maib puts Bucharest exchange listing on hold

The largest bank in Moldova, Moldova Agroind Bank (main), announced it is postponing its plan to list on the Bucharest Stock Exchange (BVB) because certain provisions in Moldovan legislation make the ... more

Romania’s leading financial group Banca Transilvania reportedly takes over BRD Pensii

Banca Transilvania, the leading financial group in Romania by assets, has reportedly reached the stage of agreeing technical and legal details for the takeover of BRD Pensii division from BRD-SocGen, ... more

Romania’s leading lender Banca Transilvania takes over OTP Bank’s subsidiary

Romania’s largest financial group by assets, Banca Transilvania (BVB: TLV), announced that it had signed a contract ... more

Dismiss