November 16 (SeeNews) - Raiffeisen Bank International (RBI) said on Wednesday its nine-month profit from operations in Bulgaria nearly doubled, rising to 64 million euro ($68.5 million) from 34 million euro in the like period last year.
Raiffeisenbank (Bulgaria) generated an operating income of 118 million euro in the period January-September, down 0.8% on the year, figures from RBI's third quarter financial report showed.
Net fee and commission income rose by 4.1%, while net interest income fell by 3.9%.
"In Bulgaria, net releases of loan loss provisions totalled 9 million euro in the reporting period and were largely due to the repayment of a non-performing loan by a large corporate customer; in the comparable period of 2015, a provisioning requirement of 17 million euro was recognized," RBI said
The total assets of Raiffeisenbank (Bulgaria) fell by 1.7% year-on-year to 3.3 billion euro at the end of September.
Following are details of RBI's performance in Bulgaria (in millions of euro unless otherwise stated):
|
Jan-Sept'16 |
Jan-Sept'15 |
y/y change |
Net interest income |
85 |
88 |
-3.9% |
Net fee and commission income |
31 |
30 |
4.1% |
Operating income |
118 |
119 |
-0.8% |
Net profit |
64 |
34 |
92.1% |
Loans |
2,130 |
2,100 |
1.4% |
Deposits |
2,401 |
2,362 |
1.7% |
Total assets |
3,342 |
3,401 |
-1.7% |
NPL ratio |
8.6% |
13.0% |
-34% |
RBI's Bulgarian unit had 642,366 customers at end-September, down 16.9% year-on-year, and operated in 149 business outlets, down from 153 a year earlier.
($=0.9339 euro)
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