March 14 (SeeNews) - Raiffeisen Bank International (RBI) said on Wednesday the after-tax profit of its Bulgarian unit fell 2.0% year-on-year to 69 million euro ($85.4 million) in 2017.
RBI’s net interest income in Bulgaria fell by an annual 7.0% to 104 million euro last year, while net fee and commission income rose 7.2% to 45 million euro, figures from RBI’s annual financial report showed.
The general administrative expenses of Raiffeisenbank (Bulgaria) rose 2.6% on the year to 88 million euro in 2017.
The total assets of RBI’s Bulgarian unit increased 11.1% on the year to 3.72 billion euro at end-2017.
Following are details of RBI's performance in Bulgaria (in millions of euro unless otherwise stated):
|
2017 |
y/y pct change |
Net interest income |
104 |
-7.0 |
Net fee and commission income |
45 |
7.2 |
Operating income |
156 |
-0.4 |
Pre-tax profit |
77 |
-1.7 |
After-tax profit |
69 |
-2.0 |
Loans |
2,350 |
8.5 |
Deposits |
2,753 |
13.5 |
Total assets |
3,723 |
11.1 |
NPL ratio (pct) |
4.3 |
-2.8 pp |
Raiffeisenbank (Bulgaria) had 600,000 customers at end-2017, down 3.7% year-on-year. The lender operated 136 business outlets in the country, down from 138 a year earlier.
($ = 0.8082 euro)