BCR group sees net profit plunge by 19.5% in H1, to LEI 488.5m

BCR group, owner of the largest lender from the local market Banca Comerciala Romana (BCR), reported a consolidated net profit after interests and taxes of 488.5 million lei in the first semester, 19.5 percent down compared to the same period in 2009, on higher provisions, the group announced.

In the first six months of 2009, the group posted a consolidated net profit of 606.8 million lei.

However, the operating profit rose by 19.8 percent from the first half last year, to 1.63 billion lei.

The main engine of this improvement was the strong increase of the net income from interests within the BCR group, by 9.7 percent to 1.9 billion lei, although it stood under the pressure generated by the slash of interest rates and the lower volumes compared to the first semester of 2009.

Money.ro