May 17 (SeeNews) - The Albanian unit of Raiffeisen Bank International (RBI) switched to an after-tax profit of 10 million euro ($11.1 million) in the first quarter of 2017 from an after-tax loss of 16.6 million, RBI said on Wednesday.
The better performance was driven mainly by much lower net provisioning for impairment losses, figures from RBI's financial report showed.
RBI's Albanian unit allocated just 880,320 euro to covering impairment losses in the first quarter of 2017, compared to 30 million euro a year earlier.
Net interest income fell 9% year-on-year to 13.4 million euro in the January-March period, while net fee and commission income increased to 3.5 million euro from 2.5 million euro in the same period of 2016. Thus, operating income dropped 9.5% to 20.4 million euro.
The ratio of non-performing loans (NPL) rose to 22.7% from 21.6% a year ago.
RBI's total assets in Albania narrowed 5.1% year-on-year to 1.95 billion euro at end-March.
Following are details on RBI's performance in Albania (in millions of euro unless otherwise stated):
|
Q1'17 |
Q1'16 |
Q1'17/Q'16 pct change |
Net interest income |
13.4 |
14.7 |
-9% |
Net fee and commission income |
3.5 |
2.5 |
38.3% |
Net trading income |
2.8 |
5.8 |
-50.9% |
Operating income |
20.4 |
22.6 |
-9.5% |
General administrative expenses |
-10.2 |
-10.7 |
-4.1% |
Operating result |
10.2 |
11.9 |
-14.4% |
Net provisioning for impairment losses |
-0.9 |
-30 |
-97.1% |
Profit/loss after tax |
10 |
-16.6 |
- |
Loans |
801.1 |
821.4 |
-2.5% |
Deposits |
1,608.6 |
1,731.9 |
-7.1% |
NPL ratio |
22.7% |
21.6% |
5.2% |
Total assets |
1,952 |
2,056 |
-5.1% |
Raiffeisen Bank Albania had 523,503 customers at end March, 29.9% down on the year.
The bank ran 81 business outlets, down from 90 a year earlier. It had 1,252 employees as of end-March, down from 1,349 a year ago.
The Albanian unit of RBI was the second largest bank in the country in terms of assets as of end-2016, according to data from the Albanian Association of Banks.
($ = 0.9016 euro)
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