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RBI's after-tax profit in Bulgaria grows 16.6% on income rise

Author Mario Tanev
RBI's after-tax profit in Bulgaria grows 16.6% on income rise Author: RBI. Licence: All Rights Reserved.

SOFIA (Bulgaria), November 13 (SeeNews) - Austria's Raiffeisen Bank International (RBI) said on Thursday that its profit after taxes from operations in Bulgaria rose by an annual 16.6% to 59 million euro ($64.9 million) in the first nine months of 2019.

RBI's operating income in Bulgaria increased 11.4% year-on-year to 135 million euro in the January-September period of 2019, the lender said in an interim financial statement.

Net interest income added 10.4% to 84 million euro, while net fee and commission income grew 18.5% to 42 million euro.

The company's general administrative expenses in the country were 4.3% higher at 69 million euro in the review period.

RBI's assets in Bulgaria rose by an annual 12.6% to 4.475 billion euro at the end of September, as loans to customers grew 16.7% to 2.935 billion euro.

The lending growth rate was outpaced by the rise in deposits, which increased 17.7% year-on-year to 3.535 billion euro at the end of September.

RBI's non-performing exposures (NPE) ratio in Bulgaria improved to 1.8% at the end of September from 2.4% a year earlier. 

The group had 2,641 employees at the end of September, up from 2,568 a year earlier, and operated 148 business outlets - one more compared to September 2018.

($ = 0.9086 euro)

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