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BRD- GSG's profit in nine months - 660 million lei, dropping 19%

de Dan Popa, transl/adapt. C.B.     HotNews.ro
Luni, 2 noiembrie 2009, 10:50 English | Business

The second bank on the local market BRD-GSG reported profits this morning to the stock exchange. The profit for the first nine months in 2009 amounts to 660 million lei (156 million euros), dropping 19% against the first eight months from 2008.

The financial institution reported the results according to the Romanian accountancy standards and listed also a net banking income worth of 2.5 billion lei / 598 million euros, i.e. 18% up. The net banking income represents the difference between the incomes earned through interests and commissions practised for banking services and the total interest paid to the customers for their deposits.

The awarded credits' total volume is 33 billion lei - 7.9 billion euros, 8% up against September 2008, and the spending vs. income report is 42.1%.

The bank's officials say that the financial results "reflect a satisfying resistance to the negative effects brought by the drop in the economic activity".

The credits for personal needs amounts to 15.8 billion lei, 4% up, while the credits awarded to legal entities increased by 12%, amounting to 17.2 billion lei, according to a bank report. Nevertheless, the communiqué confirms that "a significant drop for the credit demand continues to be noticeable also in the third 2009 quarter".
























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