May 7 (SeeNews) - Raiffeisen Bank International (RBI) said on Friday that it generated a profit after taxes of 11 million euro ($13.2 million) in the first quarter of 2021 after breaking even in the same period of last year.
RBI's operating income in Bulgaria edged down 0.2% year-on-year to 42 million euro in the January-March period of 2021, the company said in an interim financial statement.
Net interest income fell by an annual 2.1% to 29 million euro in the review period, while net fee and commission income added 1.4% to 13 million euro.
General administrative expenses rose 2.1% to 22 million euro.
RBI's assets in Bulgaria grew 8% year-on-year to 5.07 billion euro at the end of March. Loans to customers rose by an annual 6.4% to 3.26 billion euro, while deposits increased 10.2% to 4.17 billion euro.
The lender's non-performing exposure (NPE) ratio in Bulgaria increased to 1.8% in the first quarter from 1.7% in the comparable period of last year.
RBI operated 139 business outlets in Bulgaria at the end of March, nine less compared to a year earlier. The group's headcount in Bulgaria rose to 2,499 employees at the end of March from 2,656 a year earlier.
Last month, Fitch Ratings affirmed Raiffeisenbank Bulgaria's Long Term Issuer Default Rating (IDR) at 'BBB' with a negative outlook. Fitch Ratings also affirmed Raiffeisenbank Bulgaria's Viability Rating (VR) at 'bb+'.
($ = 0.8329 euro)
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