November 14 (SeeNews) - Raiffeisen Bank International (RBI) said on Tuesday the after-tax profit of its Kosovo unit rose to 15 million euro ($17.4 million) in the first nine months of 2017, from 13 million euro in the like period of 2016.
The improvement was mainly driven by higher net fee and commission income, which rose by an annual 51% to 10 million euro in the nine months ended September 30, RBI said in its third-quarter 2017 financial report.
Net interest income slightly increased by 0.2% year-on-year to 28 million euro in the January-September period.
Operating income increased by 9% year-on-year to 39 million euro, RBI said.
RBI's total assets in Kosovo increased by 4% year-on-year to 913 million euro at the end of September.
Following are details on RBI’s performance in Kosovo (in millions of euro unless otherwise stated):
| |
9-mo'17 |
9-mo'16 |
y/y change |
| Net interest income |
28 |
28 |
0.2% |
| Net fee and commission income |
10 |
7 |
51% |
| Operating income |
39 |
36 |
9% |
| After-tax profit |
15 |
13 |
19.8% |
| Loans |
562 |
532 |
5.6% |
| Deposits |
733 |
711 |
3.1% |
| Total assets |
913 |
878 |
4% |
| NPL ratio |
5% |
6.3% |
-21% |
The customers of RBI’s Kosovo unit decreased by an annual 16.6% to 257,275 during the review period.
The bank ran 48 business outlets at the end of September, down from 52 a year earlier. It had 727 employees, down from 735 a year ago.
($ = 0.85782 euro)