May 5 (SeeNews) - Raiffeisen Bank Romania's net profit rose 89.9% year-on-year in the first quarter of 2023, reaching 414 million lei ($92.8 million/84 million euro), the bank said.
The lender’s positive result came on the back of intensive lending activity for all business segments and a good customer risk profile, it said in a statement filed with the Bucharest Stock Exchange on Thursday.
Raiffeisen Bank Romania’s operating income reached 186 million euro ($205.6 million) in the first quarter of 2023, increasing from 144 million euro in the same period of last year, its Austrian parent, Raiffeisen Bank International (RBI), said separately in an interim quarterly report on Thursday.
Raiffeisen Bank Romania’s net interest income recorded an increase of 28% on the year in the first quarter of 2023, while its net commission income inched up by an annual 1%.
The bank’s general administrative expenses rose to 80 million euro in the period under review, from 70 million euro in the first quarter of 2022.
“Our loan stock has consolidated up by 20% year on year, sustained by an improved lending activity for all business segments. We continued the sustainable financing of the Romanian economy with a permanent concern for the financial health of our clients,” Zdenek Romanek, CEO & President Raiffeisen Bank Romania said.
Raiffeisen Romania’s corporate customer loan stock jumped by an annual 43% in the first quarter of 2023, focusing on sustainable projects financing. The small and medium-sized enterprises (SMEs) loan stock grew by 17% on the year, supported by government programmes such as IMM Invest, as well as credits granted through the digital channel in recurring credit campaigns.
The bank’s portfolio of loans for individuals saw a 6% annual increase during January-March, supported equally by personal and mortgage loans.
Customer deposits grew by an annual 4% in the first quarter of 2023, in the context of term deposit increases for all business segments. The bank’s customer deposits reached 49.4 billion lei in the same period of 2022, according to earlier disclosed data.
Raiffeisen Bank has been active on the Romanian market for over 25 years. It is serving over 2.3 million clients and currently employs 4,908 people across 291 units.
(1 euro=4.9295 lei)
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