BRD Romania Reports Significant Financial Growth in Q1 2024 According to IFRS Standards

BRD Romania has published official information that shows a significant increase in the main financial indicators on March 31, 2024, according to reports according to International Financial Reporting Standards (IFRS).

BRD Romania claims that the first quarter of the year was marked by lively commercial activity, with a notable expansion of company financing. In particular, funding for SMEs saw an annual increase of 27%, while large companies saw an increase of 17%. This momentum demonstrates BRD’s ability to support strong economic development in key sectors of the economy.

BRD Romania speaks of another strong point in the record level of new loans granted to individuals, which reached the level of 2.35 billion RON in Q1 2024, marking an increase of 43% compared to the same period of the previous year. This indicator confirms the increase in consumer confidence in BRD banking products.

BRD Romania also confirms that investments continued to grow, registering a 13.3% improvement compared to the previous year, which shows a strong base and growing trust from customers. Also, BRD Asset Management is in the top 3 asset managers in Romania, with managed assets increasing by 32% year on year, reaching 4.5 billion RON.

BRD Romania: Important Official Information for the attention of all Romanians

Innovation and flexibility are also characterized by the increased adoption of the YouBRD e-banking application, which reached approximately 1.5 million users, showing a 28% year-on-year growth. This move reinforces BRD’s commitment to digitization and accessibility.

In the area of ​​sustainability, BRD Romania has taken important steps, realizing an innovative security transaction with IFC, which will contribute to the acceleration of sustainable finance. The cumulative value of sustainable financial production reached almost EUR 976 million, indicating the closeness to the EUR 1 billion target for the end of 2025.

Despite a challenging economic situation, BRD Romania maintained a low level of NPLs (2.1%) and a comfortable level of coverage (76%), showing common sense in risk management. Risk costs show stability, and the net profit of 326 million RON, although slightly lower than the level of Q1 2023, confirms the efficient management of resources.

BRD Romania indicates that the financial results at the end of the first quarter of 2024 confirm an effective banking strategy and a strong position on the Romanian financial market, continuing as a pillar of stability and innovation in the banking sector.