November 20, 2017

Raiffeisen Bank Romania registered 20 % higher profit in Q3

Austrian group Raiffeisen Bank International (RBI) informed yesterday that Raiffeisen Bank Romania net profit was up by 20.4 % in the first nine months due to cost cuts and increase of operating revenue, from EUR 60 M last year to EUR 72 M. The provisions of Raiffeisen Bank Romania increased by 43.2 %, from EUR 52 M in the first nine months last year to EUR 74 M this year. The Austrian group notes that “the various individual cases have led to new allocation of provisions for corporate clients in Slovakia, Romania, Poland, and China and at the group headquarters”. The balance of credit decreased by 4.3 % compared to September 2011, from EUR 4.4 bn to EUR 4.22 bn. At the end of last year, the Romanian division of the group was reporting a credit balance of EUR 4.43 bn. Loans given to companies represented in September 35.3 % of the total credit balance, down from 37.3 % in September 2011. The share of consumer loans in the general balance went up from 60.2 % to 62 % in the interval, reads a RBI report. The deposits attracted from customers went up by 1.5 % from EUR 3.76 bn in September last year to EUR 3.81 bn.

Source: Nine o’clock () snap now

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