November 14 (SeeNews) - Raiffeisen Bank International (RBI) said on Tuesday the after-tax profit of its Bulgarian unit fell 7.3% year-on-year to 60 million euro ($70.3 million) in the first nine months of 2017.
RBI’s net interest income in Bulgaria fell by an annual 5.2% to 80 million euro in the review period, while the net fee and commission income rose 8.4% to 34 million euro, figures from RBI’s interim financial report showed.
The general administrative expenses of Raiffeisenbank (Bulgaria) rose 4.9% year-on-year to 66 million euro in the January-September period.
The total assets of RBI’s Bulgarian unit increased 7.9% on the year to 3.61 billion euro at the end of September.
Following are details of RBI's performance in Bulgaria (in millions of euro unless otherwise stated):
| |
Jan-Sept'17 |
Jan-Sept'16 |
y/y pct change |
| Net interest income |
80 |
85 |
-5.2 |
| Net fee and commission income |
34 |
31 |
8.4 |
| Operating income |
118 |
118 |
0.0 |
| After-tax profit |
60 |
64 |
-7.3 |
| Loans |
2,326 |
2,130 |
9.2 |
| Deposits |
2,647 |
2,401 |
10.2 |
| Total assets |
3,606 |
3,342 |
7.9 |
| NPL ratio (pct) |
5.2 |
8.6 |
-39.4 |
Raiffeisenbank (Bulgaria) had 612,974 customers at end-September, down 4.6% year-on-year. The lender operated 137 business outlets in the country, down from 149 a year earlier.
($ = 0.8533 euro)