Romania's largest bank returns to profit
Romania’s largest bank BCR, which is part of Austrian group Erste, recorded a net profit of €206 million in 2015.
In 2014, the bank had net losses of €630 million, due to high write-offs related to non-performing loans totalling almost €1 billion.
Last year, BCR had no more losses from non-performing loans. Moreover, the result related to NPLs was positive, as the bank reversed some provisions due to higher recoveries.
The overall NPL ratio declined to 20.2 percent of the total loans portfolio, at the end of 2015, from 25.7 percent in December 2014. BCR also granted over €1.9 billion of new loans last year, more than half of which were retail loans.
The total net loans portfolio was unchanged compared to December 2014, at some €7.2 billion, while the deposits went up by 6.8 percent, to almost €9.5 billion.
The bank’s assets were close to €13.9 billion at the end of December 2015.