BRD net profit up 12% in Q3

BRD (Banca Romana pentru Dezvoltare) has announced a net profit of 161.8 million RON (45.7 million euros) for the third quarter, a 12.2% increase against the third quarter of last year. The bank’s profit sped up in the last quarter, having increased by 3.7% in the first half of the year. Over the first nine months, the bank made a 477 million-RON (134.7 million-euro) profit, a 6.5% increase against the same time last year. However, the rate of the bank’s profit this year has been much slower than last year, when the bank’s annual profit increased by 54% against the previous year. BRD managed to attract assets worth almost one billion euros in the third quarter, increasing its total assets to 7.17 billion euros. The increase in assets allowed the bank to boost its market share by over one percentage point, to 16.7% at the end of September. “Given its extremely fast growth pace, the bank maintained a satisfactory level of profitability, improved its position on the individual clients market and even managed to develop its client base even further,” said Patrick Gelin, chairman and chief executive of the bank.