Romania’s BCR returns to profit – reverses NPL provisions
According to news site Romania-Insider.com, BCR Romania’s largest bank and subsidiary of Austrian group Erste, recorded a net profit of EUR 206 million in 2015.
In 2014, the bank had net losses of EUR 630 million, due to high write-offs related to non-performing loans totaling almost EUR 1 billion.
According to the site, last year BCR had no additional losses from non-performing loans. Moreover, the result related to NPLs was positive, as the bank reversed some provisions due to higher recoveries.
Please go to the Romania-Insider.com link below for details.