RBI to launch IT company in Romania

The new company, Raiffeisen Tech Romania, will start operating on July 1, the lender said in a press release on Wednesday.

Raiffeisen Tech Romania will provide IT services to Raiffeisen Bank Romania, as well as to other entities in the RBI group. The technology company will create a hundred jobs by the end of the year and will grow to almost 200 staff in 2025.

"We launched Raiffeisen Tech with the vision of becoming the main technology solutions partner of the Raiffeisen Bank International group and we count on the ability of the newly formed team to develop the best performing products and solutions, which will further support innovation in the banking industry," Raiffeisen Tech Romania general manager Diana Andrei said.

The Romanian unit of Raiffeisen Tech will operate as a subsidiary of Austria-based Raiffeisen Tech GmbH, itself part of the RBI group. Raiffeisen Tech currently operates units in Poland and Kosovo.

Earlier this month, RBI said its after-tax profit from operations in Romania fell 7.2% year-on-year to 79 million euro ($85.7 million) in the first trimester of 2024.

($=0.9214 euro)