Romania’s BCR Sees 35% Rise In 2012 Bad Loan Provisions
Romanian leading bank Banca Comerciala Romana (BCR) estimates provisions for potential bad loans will rise 35% to 5.32 billion lei (EUR1.22 billion) in 2012, according to the lender’s revenue and expenditure budget.
BCR, a unit of Austrian Erste Group Bank (EBS.RO), reported net expenses with risk provisions for loans and down payments of RON1.61 billion in the first nine months of 2011, equal to 20.8% of overall loans.
Group-wide, bad loan provisioning is expected to increase by RON2 billion to RON6.27 billion in 2012. The figure would amount to 11.4% of the total loans provided by the group so far, of around RON55 billion.
BCR estimates a net profit of RON422 million in 2012.
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