“2024 was again a strong year for BRD that continued to deliver high commercial performance across all its business segments, achieving solid growth in net loans outstanding, + 19% compared to 2023. The corporate segment led the way with a +29% YoY increase, while commercial momentum on retail further intensified up to +13% YoY. Loan origination for individuals remained very dynamic, reaching record levels, totaling almost RON 12 billion, up by 54%, driven by volume growth on both consumer and housing loans.
BRD remains highly committed in building a sustainable economy and continues to finance projects and engage in initiatives with positive impact. For 2024, BRD new sustainable financing reached over RON 1.8 billion, leading the cumulative production over the last 3 years to almost EUR 1.3 billion, well above the target initially set for end of 2025.
We remain engaged to further develop our digital capabilities, to improve our services and enhance our clients’ experience. Our mobile application is constantly enriched with new features, among the latest ones being the instant proximity instant payment, RoPAY, or Cashback loyalty program, and its penetration is further increasing, reaching 1.7 million users at 2024 end.
As a recognition of our collective determination to better serve our customers, BRD was awarded for the second year in a row as “The Bank of the year” by The Banker.
Financially, BRD’s revenue growth, fueled by broad based higher volumes, combined with disciplined cost and risk management, resulted in a double digit ROE, of 16.6% and an improved cost-to-income ratio, excluding the impact of the new turnover tax. Asset quality remains solid, while liquidity and capital levels are robust, well positioning BRD for continued growth. Looking ahead, BRD is committed to maintaining a drive for growth enabled by sustainable practices, digital innovation and simplification, ensuring to meet the ever-changing needs of its customers.”, said Maria ROUSSEVA, CEO of BRD Groupe Société Générale.
Main commercial trends and financial indicators of BRD Groupe Société Générale at December 31st, 2024 at consolidated level, according to the International Financial Reporting Standards (IFRS):
➢ Solidly supporting business growth
• significant corporate financing activity (+29% YoY), fueled by impressive performance on both SMEs (+26.4% YoY) and large corporates (+31.1% YoY)
• loan origination for individuals reached record levels, close to RON 12 billion in 2024, +54% YoY
• growing deposit collection, +9% YoY
• BRD Asset Management, leader on UCITS market, marked significant growth of assets under management to RON 6.2 billion, +55% YoY and ~23.1% MS
• easy and accessible banking through e-channels for the over 1.7 million users of YouBRD at December 2024 end, +20% YoY
➢ Funding Sustainable Growth
• production of sustainable financing reached over RON 1.8bn in 2024, while the cumulated production target envisaged for 2025 was well exceeded in advance
➢ Improved operating performance built on remarkable lending activity and costs stewardship
➢ Healthy loan book, low level of NPL ratio (2.1%) and comfortable NPL coverage (77.8%) at December 2024 end
➢ Cost of risk evolution reflecting a return to normalized levels
➢ Net profit of RON 1,524 million, ROE 16.6%
By Andreea Dragan, Editor – 19.02.2025
Andreea Drăgan joined Nine O’Clock in April 2023. She graduated the Faculty of Journalism and Communication Science in 2023 and holds a degree in communications sciences. She obtained the Cambridge Assessment English: First Certificate in English (FCE) diploma in December 2018 with a B2 Level. In August she was promoted to Editor of Nine O’Clock Newspaper after many interviews and articles written by her. Andreea Drăgan, journalist at Nine O’Clock, specializing in Capital Markets and listed companies on the Bucharest Stock Exchange, has been nominated for the “Excellence in Capital Market Journalism in 2024” award at the prestigious BVB Awards, organized by the Bucharest Stock Exchange. Get in touch with her: [email protected]
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