BCR Group reports 50 percent decrease in net profit, down to 125 million Euro in 2019

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BCR Group reports 50 percent decrease in net profit, down to 125 million Euro in 2019

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February 28, 2020

BCR registered a net profit of 125 million Euro in 2019, lower by 50.7% against 258.3 million Euro in 2018, as impacted by the significant one-off provision allocation related to the activity of BCR Banca pentru Locuinte, despite the best operating result in the last five years underpinned by strong loan growth.

The operating result improved by 9.3% to EUR 376.5 million in 2019, from EUR 351.4 million in 2018, supported by better operating income along with strict cost control.

The operating income increased by 6.2% to EUR 735.5 million in 2019 from EUR 706.0 million in 2018, driven by higher net interest income and fee income.

The number of active digital clients went up by 34% year-on-year, launching the first fully digital unsecured lending and the first online credit refinancing facility. George reached 720,000 users, combined with a 76% increase of sales for digital products.

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