November 14 (SeeNews) - The Albanian unit of Raiffeisen Bank International (RBI) turned to an after-tax profit of 26 million euro ($30.3 million) in the first nine months of 2017, from a loss of 16 million euro in the like period of 2016, RBI said on Tuesday.
The improved performance was driven mainly by much lower net provisioning for impairment losses, figures from RBI's third-quarter financial report showed.
RBI's Albanian unit recorded net releases of 4 million euro in January-September, compared to provisioning of 47 million euro in the corresponding period of 2016, RBI said.
Net interest income fell 8.2% year-on-year to 40 million euro in the January-September period, while net fee and commission income increased 25.2% to 11 million euro.
Operating income fell 15.9% to 53 million euro.
RBI's total assets in Albania decreased 4.9% year-on-year to 1.83 billion euro in the end-September
Following are details on RBI's performance in Albania (in millions of euro unless otherwise stated):
| |
9-mo'17 |
9-mo'16 |
y/y change |
| Net interest income |
40 |
43 |
-8.2% |
| Net fee and commission income |
11 |
9 |
25.2% |
| Net trading income |
1 |
12 |
-89.7% |
| Operating income |
53 |
63 |
-15.9% |
| General administrative expenses |
-31 |
-34 |
-7.5% |
| Operating result |
22 |
29 |
-25.6% |
| Net provisioning for impairment losses |
4 |
-47 |
- |
| Profit/loss after tax |
26 |
-16 |
- |
| Loans |
771 |
799 |
-3.6% |
| Deposits |
1,519 |
1,626 |
-6,5% |
| NPL ratio |
17.9% |
23.5% |
-23.8% |
| Total assets |
1,838 |
1,932 |
-4.9% |
The number of customers of RBI's Albanian unit fell 31.3% year-on-year to 514,833 at end-September.
RBI ran 78 business outlets in Albania as at end-September, down from 87 a year earlier. It had 1,222 employees, down from 1,323 at the end of September 2016.
($ = 0.85782 euro)
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