BELGRADE (Serbia), March 15 (SeeNews) – Raiffeisen Bank International (RBI) said on Wednesday its net profit in Serbia rose by 19.7% in 2016, reaching 52 million euro ($55.2 million).
Raiffeisenbank (Serbia) generated an operating income of 126.4 million euro in 2016, down 5.2% year-on-year, figures from RBI's 2016 financial report showed.
Net fee and commission income rose by 1.8% to 38 million euro, while net interest income fell by 9.3% to 80.4 million euro, due to the lower market interest rate level.
In Serbia, net releases totalled 6 million euro, compared to net provisioning for impairment losses of 8 million euro in the previous year, due to the improved risk situation in the corporate customer business, RBI said.
The total assets of Raiffeisenbank (Serbia) rose by 7.6% year-on-year to 2.1 billion euro at the end of December.
Following are details of RBI's performance in Serbia (in millions of euro unless otherwise stated):
|
2016 |
2015 |
y/y change |
Net interest income |
80 |
89 |
-9.3% |
Net fee and commission income |
38 |
37 |
1.8% |
Operating income |
126 |
133 |
-5.2% |
Net profit |
52 |
44 |
19.7% |
Operating profit |
53 |
60 |
-12.1% |
Loans |
1.151 bln |
1.098 bln |
4.8% |
Deposits |
1.578 bln |
1.455 bln |
8.4% |
Total assets |
2.097 bln |
1.948 bln |
7.6% |
Net interest margin |
4.17% |
4.81% |
-0.64 pp |
RBI's Serbian unit had 704,974 customers at end-2016, up 5.9% year-on-year, and operated in 87 business outlets, versus 85 a year earlier.
($ = 0.941350 euro)
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