November 14 (SeeNews) - Raiffeisen Bank International (RBI) said on Wednesday that its proft after taxes from operations in Bulgaria fell by an annual 14.8% to 51 million euro ($57.6 million) in the first nine months of 2018.
RBI's operating profit in Bulgaria edged down by 1.8% to 55 million euro in January-September, as general administrative expenses rose 5.5% to 66 million euro, the lender said in an interim financial statement.
However, the lender reversed 5 million euro of financial asset impairments in the review period, down from 14 million euro in reversed impairments in the comparable period of last year.
RBI posted 121 million euro in operating income from Bulgarian operations, up 2.0% year-on-year. Net interest income edged down 0.8% to 76 million euro, while net fee and commission income added 4.5% to 35 million euro.
The lender's loans to customers in Bulgaria increased by 12.9% to 2.5 billion euro, while deposits rose 13.5% to 3.0 billion euro.
RBI's NPL ratio in Bulgaria fell to 3.1% at the end of September from 5.2% a year earlier.
The bank's assets in the country totalled 3.97 billion euro at the end of the review period, up by 10.2% year-on-year.
RBI operated 147 business outlets in Bulgaria at the end of September, 10 more compared to a year earlier. The lender's clients edged down 0.5% to 600,000.
($ = 0.8859 euro)
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