The profit of BRD Groupe Societe Generale, the third biggest Romanian bank by assets, decreased by 1.1% to RON 1.52 billion (EUR 325 mln) in 2019, after record results posted in 2018, according to the preliminary results released on February 6.

The bank’s assets advanced at a moderate rate of 3.2% year-on-year, slower than the consumer price inflation, to RON 55.8 bln (EUR 11.7 bln) at the end of December.

The consolidated net profit of the BRD group edged down by 4% to RON 1.49 bln (EUR 320 mln) while the total assets went up by 3.7%, to RON 57.8 bln (EUR 12.1 bln).

“We have achieved a high profitability thanks to the increase in revenues, the robust risk profile and the solid commercial performance on both client segments, retail and corporate, while continuing the implementation of our plan to transform the business model,” said Francois Bloch, General Manager of BRD Groupe Societe Generale.

The bank’s Board of Directors has decided to propose a gross dividend per share similar to that paid last year (RON 1.64 per share, corresponding to a yield of 10%), subject to the favorable vote at the General Meeting of Shareholders on April 23.

editor@romania-insider.com

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