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Best Bank: BRD – Groupe Société Générale |
BRD Groupe Société Générale (BRD) put in a highly creditable performance in 2008 despite slackening borrowing appetite and rising credit risk. The bank reported a net profit of L1.1 billion ($369.5 million), up 22% on 2007. Among other key financial figures the bank’s return on equity was a healthy 32.8%, while the cost-income ratio was an impressively low 42%, despite a still high level of investments.
Although BRD boosted its loan book by 27% it managed to maintain a low-level net cost of risk, with bad loans constituting only 1% of overall commitments.