Romanian lender BCR estimates EUR 143 mln net profit for 2014
Romanian bank BCR, owned by Austrian Erste Bank, estimates a net profit of RON 647 million (or some EUR 143 million) for 2014, according to the bank’s revenue and expenditure budget.
The stock of loans is expected to increase to RON 48.2 billion (EUR 10.6 billion) from RON 47.6 billion at the end of September 2013.
This year, BCR should establish provisions for loans and advances of RON 1.2 billion (some EUR 264,000), below the level reported in the first nine months of last year and about a third of the 2012 level.
The assets at the end of 2014 are estimated at RON 67.6 billion (EUR 14.9 billion), up from September 2013.
At a group level, BCR foresees a smaller net profit of RON 515 million (around EUR 113 million).
The gross profit of the bank is expected to reach some RON 771 million (EUR 170 million) this year, while at a group level it will amount to around RON 666 million (EUR 147 million).
BCR Group posted a net profit of EUR 127 million in the first nine months of 2013, bouncing back after a loss of EUR 172 million in the first three quarters of 2012.
Irina Popescu, irina.popescu@romania-insider.com