BCR posts net profit of 1.75 billion RON in 2022, almost 24 pct higher than in 2021

 Last year, Banca Comerciala Romana (BCR) recorded a net profit of 1.746 billion RON, respectively 354 million euros, up 23.8% compared to 1.410 million RON (286.5 million euros) in 2021, due to an improved operational performance, supported by the continued strong growth in lending, informs the bank in a press release sent to AGERPRES on Tuesday.

Net interest income increased by 21.7% to 2.949 billion RON (597.9 million euros) in 2022, from 2.422 billion RON (492.2 million euros) in 2021.

Net commission income increased by 8.8% to 944.2 million RON (191.5 million euros) in 2022, from 867.9 million RON (176.4 million euros) in 2021.

"Based on these developments, the cost-income ratio improved to 40.7% in 2022, compared to 44.1% in 2021," says BCR.

The rate of non-performing loans stood at 2.8% in December 2022, down significantly from 3.9% in December 2021.

Net loans and advances granted to customers increased last year by 15.6%, up to 55.329 billion RON (11.179 billion euros) on December 31, 2022, from 47.869 billion RON (9.672 billion euros) y-o-y, supported by increases both in retail lending (+4.1% compared to December 2021, to 28.062 billion RON) and in corporate lending (+25.5% compared to December 2021, to 26.037 billion of RON).

In the corporate lending activity, BCR approved new loans for companies worth 15.6 billion RON in 2022, 65% more than in 2021, one third of which are intended for investments.

Customer deposits increased by 4.3% to 75.589 billion RON (15.272 billion euros) on December 31, 2022 from 72.458 billion RON (14.641 billion euros) on 31 December 2021, driven by a reduction in retail deposits (-5.3% compared to December 31, 2021, to 43.754 billion lei) compensated by the increase in corporate deposits (+20.1% compared to December 31, 2021, to 28.847 billion RON).