Oudea, SocGen: We keep our commitment to Romanian clients

Societe Generale, the majority shareholder of BRD, has a long-term commitment to Romanian customers and will further support them, as it has also proven through the major role it played in the “First Home” governmental mortgage programme, says Frederic Oudea, the French group’s chairman. “Last year, we remained completely committed to supporting Romania’s economy, I believe we had an exemplary attitude to the entire CEE region and we also played a role in the economic improvement of the region,” SocGen head said. The French group for last year reported income worth 137m euros from the 59.4% stake it owns in BRD, down by over 28% compared with the profit it had in 2008. SocGen officials believe the improved loan/deposit ratio, which dropped below 115% at BRD in 2009, is a positive factor the bank will be able to use this year to provide financing within the programmes meant to boost the economy the government is set to launch.