Romania’s BCR Group, part of Austrian Erste Bank Group, said it recorded a net profit of RON 1.74 bln (EUR 354 mln) in 2022, up 23.8% compared to 2021, citing for this “the strong credit growth.”

The stock of net customer loans increased by 15.8% YoY to RON 55.3 bln, slightly more than the average 12% YoY advance of the entire banking system.

The Group’s operating result improved by 29% YoY to RON 2.73 bln (EUR 554.7 mln) in 2022 on the back of higher operating income, partially offset by higher operating expenses.

Net interest income increased by 21.7% YoY to RON 2.94 bln (EUR 597.9 mln) in 2022, driven by a higher volume of business along with higher interest rates on the money market.

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

iulian@romania-insider.com

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