BCR profits grow 16.4% in 2006

The net consolidated profit of the Romanian Commercial Bank (BCR) group grew in 2006 16.4%, reaching 756.3 million RON (some 214.5 million euros), while the total assets increased 38.6%, up to 47.43 million RON (14.02 million euros).

According to a company press release, the annual net profit before deducting the restructuring costs was some 38% larger year over year, over 254 million euros, the operational profit advancing 22.2%, from 933.5 million to 1,409.1 million RON.

The engine for the growth is said to be the fast growth in credits offered to clients, which increased 54.2%.