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BCR reported a net loss of RON 1,234.7 million (EUR 276.9 million) in 2012

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2013-02-28 09:05

BCR reported a net loss of RON 1,234.7 million (EUR 276.9rnmillion) in 2012, on the back of peaking risk costs and ongoing restructuring.rnrnNet charge of risk provisions for loans in 2012 significantly rose by 68.3% to RON 3,625.9 million (EUR 813.3 million). BCR records 4th consecutive quarter of improving NPL coverage ratio, now at 58.6%,rnsignificantly above 50.6% at year-end 2011.rnrnCost-income ratio remained stable at 41.6% versus 41.0% in 2011, owing to extensive optimisation measures and strict cost management.rnrnBCR maintained leading position at 19.3% market share by assets, despite a reduction in total assets by 4.5% YOY to RON 73,287.6 million (EUR 16,489.5 million).rnrnBCR has strong liquidity position and a sound capital base well above regulatory minima: Tier 1+2 capital ratio (IFRS) for BCR group at 18.6%, solvency ratio (local standards, bank standalone) at 12.4%.rnrn”We are looking forward to changing our bank and future. The process has started in 2012 and shall continue throughout 2013. Our objectives are clear, first and foremost we aim to gradually improve assetrnquality and overall risk management framework. In parallel, we are seeking to improve the quality of our business model through reorganization of business units, branch network and overall simplification of the operating model“, stated Tomas Spurny, CEO of Banca Comerciala Romana.rnrn„The in-depth restructuring of our operations targets above all improvement of client experience and overall adjustment of our franchise to the new reality of banking market in Romania. I have no doubt whatsoever that the BCR team shall succeed in this challenge“, added Tomas Spurny.rnrnSee in fisiere the BCR press release

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