French-owned bank BRD has granted EUR 250 million of mortgage loans under the First House program within the previous 12 months. BRD covered 28 percent of the total volume of loans granted by banks under this program since its start one year ago.

“The First House program has breathe some life into the real estate market which was on stand-by,” said Lucian Cojocau, executive director of the commercial department with BRD.

BRD is the second largest bank in Romania, assets wise. It has 2.5 million clients and runs 930 banks units in the country. Its revenues in the first three months of the year were of EUR 224 million, 12 percent higher than in the first three months of 2009. Its net profit was of EUR 49 million, 5 percent smaller than in the first quarter of 2009.