Lender BRD Groupe Societe Generale has achieved a net profit of EUR 28.8 million in the first quarter of 2011 in Romania, down 38.7 percent compared to the same period last year, according to the bank. The total loans to customers were about 1 percent lower than at the end of March last year.

BRD registered in the first quarter a net banking income of EUR 186.2 million, while the net cost of risk is about EUR 69.1 million, 10 percent lower than the first quarter of last year. However, its gross operating profit reached almost EUR 105 million.

The total volume of the customers' deposits decreased by about 5 percent at the end of the first quarter this year, while the general expenses went down by 1 percent compared to March 31 last year. BRD Groupe Societe Generale is the second bank in Romania based on total assets. The bank has 2.5 million customers and operates a network of over 930 units countrywise.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Corina Saceanu/romania-insider.com)