Operating income in 2013 recorded a slight decrease by 1.2% to RON 3,990.1 million (EUR 902.9 million) from RON 4,040.5 million (EUR 906.3 million) in 2012.
Operating expenses in 2013 significantly declined by 10.9% to RON 1,500.2 million (EUR 339.5 million) from RON 1,682.8 million (EUR 377.4 million) in 2012. Cost-income ratio for the full year 2013 improved to 37.6% versus 41.6% in 2012.
Net charge of risk provisions for loans in 2013 decreased substantially by 41.2% to RON 2,132.7 million (EUR 482.6 million) from RON 3,625.9 million (EUR 813.3 million) in 2012. NPL coverage ratio, at 65.8% as of December 2013, significantly improved in comparison to 58.6% as of December 2012.
Net profit after tax and minority interests in 2013 stood at RON 591.2 million (EUR 133.8 million) as compared to a loss of RON 1,234.7 million (EUR 276.9 million) in 2012, delivering against the ambitious targets of the turnaround program running in BCR and also accounting for a positive one-off effect from release of deferred tax liabilities in Q2 2013.
BCR maintained leading market share by assets, despite the decline in total assets by 8.9% to RON 66,728.8 million (EUR 14.924.8 million) as of 31 December 2013, versus RON 73,287.6 million (EUR 16,489.5 million) as of 31 December 2012.
BCR has exceptionally strong capital and liquidity positions, well above regulatory minima: Tier 1+2 capital ratio (IFRS) for BCR group stood at 24.9%, while solvency ratio (local standards, bank standalone) at 14.7% as of December 2013.
"We achieved a challenging job in 2013 returning to breakeven after one-off items and, most importantly, dealing with bold decisions, regarding costs, organization and strategy, aimed at consolidating the fundamentals of BCR as the leading bank in Romania. Our main priority in 2014 is healthy business growth, with a special focus on becoming more efficient and customer-centred, by means of better business processes. We continue to face significant challenges ahead of us, not least resolving the NPL stock amidst promising economic growth delaying to translate yet into more solid loan demand. We are determined to work towards reaching our goals, providing secure, sustainable and transparent financial intermediation to our customers and further reinforcing their trust in our franchise", said Tomas Spurny, CEO of BCR.