August 8 (SeeNews) - Raiffeisen Bank International (RBI) said on Thursday its after-tax profit from operations in Romania fell by an annual 23.4% to 71 million euro ($79.3 million) in the first half of 2019.
RBI's operating income from operations in Romania fell 1.7% on the year in the first six months of 2019 to 259 million euro. Net interest income increased by 16.7% to 182 million euro in the review period, the bank said in its semi-annual unaudited financial report.
Bucharest-based Raiffeisen Bank's non-performing loan (NPL) ratio dropped to 3.5% at the end of June, from 4% a year earlier. The coverage of NPLs with provisions rose to 48.2%, from 43.1% at the end of June 2018.
RBI's loan portfolio in Romania increased 8.5% on the year to 5.69 billion euro, driven by sustained performance in the retail segment. Customer deposits increased 6.2% on the year to 7.17 billion euro at end-June, mostly driven by household savings. The ratio of net loans to deposits reached 77.7% as at the end of June 2018.
Raiffeisen Bank had 378 branches in Romania at the end of June and employed 5,008 people.
Following are details on RBI’s performance in Romania (in millions of euro):
|
H! 2019 |
H1 2018 |
Profit after tax |
71 |
93 |
Pre-tax profit |
85 |
110 |
Operating income |
259 |
264 |
Net interest income |
182 |
156 |
Net fee and commission income |
84 |
92 |
Loans |
5,691 |
5,247 |
Deposits |
7,179 |
6,761 |
Total assets |
8,762 |
8,576 |
($ = 0.8943 euro)
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