Romanian major bank BRD posts 2.5% increase in net profit in H1 2026

BRD (BVB: BRD), one of the major banks present in Romania, reported a net profit of RON 784 million in the first half of the year, up 2.5%, according to the report submitted to the Bucharest Stock Exchange. In H1 2026, BRD Group’s net banking income reached RON 2,206 million, up +1.8% year-on-year. Net interest income, which accounts for 70% of net banking income, totaled RON 1,548 million in H1 2026, up +1.4% year-on-year.

Net fee and commission income amounted to RON 452 million, compared with RON 453 million in H1 2025, remaining broadly stable compared with the previous year. Increased customer activity and the solid contribution of custody, brokerage, asset management and off-balance-sheet commitment activities were offset by the decrease in fee income from services, amid the process of cleaning inactive accounts. Other banking income reached RON 206 million, up +9% year-on-year, mainly reflecting higher income related to associated entities, as well as the recognition of an exceptional (“one-off”) income.

In the context of persistent double-digit inflation and the doubling of the turnover tax, operating expenses decreased by 0.5% year-on-year in H1 2026, supported by cost discipline and the absence of contributions to the Deposit Guarantee Fund and the Resolution Fund (FGDB and FR) in 2026. Personnel expenses decreased by 8.3% year-on-year, reflecting the optimization of the Group’s workforce activity and operating model. Excluding the turnover tax and the cumulative contributions to guarantee funds related to 2025, the other categories of operating expenses increased by +3.1% year-on-year, mainly as a result of higher IT&C expenses, generated by the depreciation of previous investments and the continuation of infrastructure and digitalization projects.

The turnover tax for the January-June 2026 period doubled compared with H1 2025, reaching RON 139 million (equivalent to 4% of gross revenues), compared with RON 66 million in the same period of the previous year. In this context, BRD Group’s gross operating profit increased by +4.2% year-on-year, to RON 1,112 million in H1 2026. The cost/income ratio improved to 49.6%, compared with 50.7% in H1 2025.

Excluding the impact of the turnover tax and other contributions related to 2025, the cost/income ratio would have stood at 43.3% in H1 2026, compared with 45.4% in H1 2025, representing an improvement of…