“We will continue to develop our digital solutions in 2022” – The Diplomat Bucarest
BRD Société Générale Group started 2021 with “optimistic expectations” and managed to achieve its “best 9M ever recorded” in terms of production of loans to individuals.
“After 2021, a year of economic recovery, also reflected in the financial industry, 2022 appears to be more problematic, and will highlight certain imbalances brought about by the pandemic period. The most important of these are inflation and the disruption of the supply chain, followed by the double deficit and other uncertainties related to the stabilization of the pandemic ”, François Bloch, CEO of BRD Société Générale Group, told The Diplomat-Bucarest.
“I am particularly satisfied with the way in which the entire BRD team approached this difficult and unprecedented context. (…) As far as we are concerned, we will continue our main projects in 2022. We will continue to develop our digital solutions, both for retail and enterprise customers, and will continue to focus on improving the quality of our services as well as introducing new ESG compliant products to the market. Romanian.
PERFORMANCE COMMITMENT | COMMERCIAL DEVELOPMENT, PROJECTS, PERFORMANCE, FIGURES
“We started the year with optimistic expectations. The first vaccines were announced, there was a positive waiting horizon, and this laid the foundation for a recovery in business. This last hypothesis has been confirmed, as evidenced by the favorable development of our activity and our financial performance. However, the vaccination rate remains disappointing and the duration of the pandemic, combined with increased inflation and supply chain disruptions, is weighing on future growth.
Nevertheless, we had an exceptional production of loans to individuals, with our best 9M ever recorded, + 48% YoY and + 21% vs 9M 2019, an excellent performance in corporate financing, driven by both SMEs ( + 28% yoy) and large corporate clients (+ 17% yoy), a growing volume of assets under management (+ 29% yoy), which contributed to net profit up 25 percent year on year, RON 920 million.
I am particularly satisfied with the way in which the entire BRD team approached this difficult and unprecedented context.
STRATEGY & VISION | RETHINKING STRATEGY AND PRIORITIES
“My main challenges in 2021 were to stay the course, keep pace with our main projects, stay close to our clients and ready to support them, preserve and strengthen our bank’s reputation. It is always difficult to motivate people, whether they are managers or their teams, and this pandemic, with all that it has entailed in our activity, has forced us to develop new ways of working to ensure cohesion and transversal cooperation.
After 2021, a year of economic recovery, also reflected in the financial industry, 2022 appears to be more problematic, and will highlight certain imbalances brought about by the pandemic period. The most important of these are inflation and supply chain disruption, followed by the double deficit and other uncertainties related to the stabilization of the pandemic.
In the banking sector, trends such as digitization will be confirmed next year, with a wider range of services accessible online and, very likely, with new developments in the field of open banking.
Sustainability is another trend that will become increasingly clear in terms of actions over the next year and for sure the banking industry will see a range of new ESG lending products and services, as well as specific actions in this area. .
As far as we are concerned, we will continue our main projects in 2022. We will continue to develop our digital solutions, both for retail and enterprise customers, and will continue to focus on improving the quality of our services as well as introducing new ESG compliant products to the market. Romanian.
PEOPLE AND COMMUNITY | FOCUS ON SECURITY, THE SOCIAL APPROACH, PROMOTING THE POWER OF THE COMMUNITY
“We have identified a number of issues where support is desperately needed. For example, in the field of education, the fact that there are large gaps in literacy among children leads to what is called functional illiteracy, and this in a huge proportion – 40% of young people. 15-year-old cannot read and write or understand what they read. A 2015 OECD study shows that this has a huge impact on Romania in the long run – Romania’s GDP could be between 200 and 300% higher if functional illiteracy is eliminated until 2030.
What are we doing about it? We are funding a digital platform with resources that help teachers close the gaps and work with children – the Alfabetar Project, developed by the Association for Values in Education (AVE). In the first year, over 30,000 children were tested and began to access these resources.
Thanks to the independent education journalism platform, Scoala9, which we founded, we welcome daily analysis, editorials, ideas on what modern education means and how teachers, students , parents and specialists believe that change can happen. We believe journalism can shed light on what’s good in our system, it can show us who and what can really change education and what needs to be done next.
We also have a few other programs that either focus on building 21st century skills, like the BRD First Tech Challenge robotics programs, which each year brings together hundreds of high schools and thousands of students around this competition. Robotics was an almost unknown area in Romania 5 or 6 years ago, and there was almost no programming as a subject in high schools. Today, 5 years later, thanks to the efforts of the Natie prin Educatie foundation, but also with financial support of over one million euros from BRD, we are talking about a real phenomenon – more than 5,000 students participate annually in robotics competitions in Romania, and Romanian teams win important robotics competitions abroad. This is an example of how things can change in a relatively short time.
What we want is to be able to talk, in 5 years, about how we have succeeded, by joining forces with many other actors, in helping more and more children to acquire skills capable of ensuring them a decent future. In Romania.
CRAZY FOR GREEN | Sustainable, greener, community and environment oriented
“In 2021, we took important steps in terms of improving our internal ESG governance. Aware of the importance of preparing for the legislative changes to come and the increased expectations of stakeholders, we are currently working on our first real sustainable development report. It’s a big job, and it won’t be public until the spring of 2022.
On a commercial level, we have been a player and even a leader, in some of the most important ESG transactions in Romania: the largest green loan, granted to Hidroelectrica, an ESG club loan granted to Nepi Rockcastle, as well as the first issue of corporate obligations linked to sustainability that the BRD has mediated for Autonom Services.
We are also very happy that our efforts have not gone unnoticed. In 2021, we received several important distinctions for our actions in terms of sustainable development. At the Sustainability in Business Forum and Awards 2021, we received an award in the Sustainability Partnership of the Year category, while our colleague, Secretary General Flavia Popa, received the Sustainability Ambassador award.
DIGITAL DNA | Seize technology, digital innovation, customer-centric, build new bridges
“The pandemic quickly raised long waiting questions, to which we were forced to respond quickly and test the remote work on the move, the reliability and robustness of this collaboration model. As we can see now, it was a challenge that we have successfully responded to. A few weeks ago, we launched the Remote Onboarding Service, which makes the journey to become a BRD customer much easier, in a process in which only 20 minutes go from the first interest in becoming a BRD customer to an account. operational current. We are investing heavily in the mobile banking environment, where the customer can feel right at home and easily execute payment orders, currency exchange, bill payments and more to come. One of the things we are particularly proud of is the ability to get a loan or refinance existing loans in less than 15 minutes online, seamlessly.
The digitalization trend will be confirmed next year, with a wider range of services accessible online and, very likely, with new developments in the open banking space. We could see some of the first complex integrations such as the first examples of Bank-as-a-Service (through which banks give access to their technology platform to other players) or Bank-as-a-Platform (which allows customers to access external products or services through their usual bank).
2021 IN 3 KEY WORDS
“Resilience, Hard Work, Hope”
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