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Raiffeisen Bank Intl 9-mo after-tax profit in Romania rises 20.4% - table

Nov 28, 2012, 2:44:53 PMArticle by Mariya Stanimirova
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November 28 (SeeNews) - Raiffeisen Bank International (RBI) said on Wednesday its nine-month after-tax profit from Romanian operations climbed by 20.4% to 72 million euro ($93 million).

Raiffeisen Bank Intl 9-mo after-tax profit in Romania rises 20.4% - table

RBI's total assets in Romania fell by 3.2% to 6.090 billion euro at end-September, the bank said in its nine-month financial report adding it has continued its good performance in the country.

Raiffeisen has cut expenses by reducing its staff in Romania to 5,660 from 7,000 as part of its cost management and efficiency measures, the report added.

Following are details from RBI's performance in Romania (in millions of euro):

Jan-Sept’12 Jan-Sept’11..Q3’12 Q3’11
Profit after tax 72 60 23 20
Pre-tax profit 84 71 27 24
Operating income 346 342 116 118
Net interest income 229 196 71 71
Loans 4,217 4,404 4,217 4,404
Deposits 3,813 3,758 3,813 3,758
Total assets 6,090 6,292 6,090 6,292

RBI's customers base in Romania remained almost flat at about 1.96 million as of end-September, while the number of business outlets decreased by 2.6% to 530 at the end of September.

($ = 0.775 euro)

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