Romania's BRD Q1 net profit at 37 mln lei

BUCHAREST Wed May 7, 2014 1:39am EDT

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BUCHAREST May 7 (Reuters) - Romania's second-largest bank, BRD, controlled by France's Societe Generale , posted a first-quarter net profit of 37 million lei ($11.61 million), it said on Wednesday.

The bank recorded a net loss of 385 million lei at the end of last year.

Bancpost had expected the bank to rejoin positive territory with a net profit govering around 20 million lei, according to an equities research note. ($1 = 3.1865 Romanian lei) (Reporting by Luiza Ilie)