TIRANA (Albania), March 14 (SeeNews) – The Albanian unit of Raiffeisen Bank International (RBI) turned to after-tax profit of 34 million euro ($42 million) in 2017, from a loss of 33 million euro in 2016, RBI said on Wednesday.
The improved performance was driven mainly by much lower net provisioning for impairment losses, RBI said in its 2017 financial report.
RBI's Albanian unit recorded net releases of 3 million euro in the year under review, compared to provisioning of 65 million euro in 2016 due to the default of several large corporate customers, RBI said.
Net interest income fell 4.4% year-on-year to 53 million euro, while net fee and commission income increased 19.3% to 15 million euro.
Operating income fell 5.6% to 74 million euro.
RBI's total assets in Albania decreased 5.9% year-on-year to 1.88 billion euro at the end of December 2017.
Following are details on RBI's performance in Albania (in millions of euro unless otherwise stated):
|
2017 |
2016 |
y/y change |
Net interest income |
53 |
56 |
-4.4% |
Net fee and commission income |
15 |
13 |
19.3% |
Net trading income |
1 |
12 |
-90.6% |
Operating income |
74 |
78 |
-5.6% |
General administrative expenses |
-43 |
-47 |
-8.9% |
Operating result |
30.8 |
31 |
-0.7% |
Net provisioning for impairment losses |
3 |
-65 |
- |
Profit/loss after tax |
34 |
-33 |
- |
Loans |
777 |
815 |
-4.6% |
Deposits |
1,542 |
1,694 |
-9% |
NPL ratio |
16.3% |
22.9% |
-28.8% |
Total assets |
1,883 |
2,002 |
-5.9 |
The number of customers of RBI's Albanian unit fell 36.7% year-on-year to 475,766 at end-December 2017.
RBI ran 78 business outlets in Albania in 2017, down from 81 a year earlier. It had 1,229 employees, down from 1,291 at the end of December 2016.
($ = 0.80909 euro)
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