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RBI's 9-mo after-tax profit in Romania falls 34% - table

RBI's 9-mo after-tax profit in Romania falls 34% - table Raiffeisen Bank Romania

BUCHAREST (Romania), November 14 (SeeNews) - Raiffeisen Bank International (RBI) said on Thursday its after-tax profit from operations in Romania fell by an annual 34% to 105 million euro ($115.5 million) in the first nine months of 2019.

RBI's operating income from operations in Romania fell 6.3% on the year in the first nine months of 2019 to 382 million euro. Net interest income increased by 13.2% to 278 million euro in the review period, the bank said in an interim unaudited financial report.

Bucharest-based Raiffeisen Bank's non-performing loan (NPL) ratio dropped to 3.4% at the end of September, from 3.7% a year earlier. The coverage of NPLs with provisions rose to 55.4%, from 45.2% at the end of September 2018.

RBI's loan portfolio in Romania increased 9.4% on the year to 5.96 billion euro, driven by sustained performance in the retail segment. Customer deposits increased 6.6% on the year to 7.47 billion euro at end-September, mostly driven by household savings. The ratio of net loans to deposits reached 77.4% as at the end of September 2019.

Raiffeisen Bank had 369 branches in Romania at the end of September and employed 4,971 people.

Following are details on RBI’s performance in Romania (in millions of euro):

  Jan- Sep 2019 Jan-Sep 2018
Profit after tax 105 158
Pre-tax profit 131 188
Operating income 382 407
Net interest income 278 246
Net fee and commission income 128 140
Loans 5,957 5,447
Deposits 7,466 7,003
Total assets 9,218 8,789

($ = 0.9092 euro)

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