August 11 (SeeNews) - Raiffeisen Bank International (RBI) said on Tuesday its after-tax profit from operations in Romania fell 26.4% year-on-year in the first half of 2020 to 52 million euro ($61.14 million).
RBI's operating income from operations in Romania grew 4.8% on the year in the first half of 2020, reaching 272 million euro, the bank said in an unaudited first-half financial report.
Net interest income increased by 3.4% to 189 million euro in the review period, while net fee and commission income fell 11.6% on the year to 74 million euro.
The number of customers edged down 1.1% on the year to 2.2 million at the end of June.
Raiffeisen's non-performing loan (NPL) ratio in Romania dropped to 2.9% at the end of June 2020, from 3.5% a year earlier. The coverage of NPLs with provisions rose to 67.1% at the end of June 2020, from 48.2% at the end of June last year.
RBI's loan portfolio in Romania edged up by an annual 1% to 5.748 billion euro at end-June, while customer deposits rose 12.1% on the year to 8.046 billion euro. The ratio of net loans to deposits reached 69.6% as at the end of June.
Raiffeisen Bank had 354 branches in Romania at the end of June and employed 5,047 people.
Following are details on RBI’s performance in Romania (in millions of euro):
|
H1 2020 |
H1 2019 |
Profit after tax |
52 |
71 |
Pre-tax profit |
65 |
85 |
Operating income |
272 |
259 |
Net interest income |
189 |
182 |
Net fee and commission income |
74 |
84 |
Loans |
5.748 |
5,691 |
Deposits |
8.046 |
7.179 |
Total assets |
9.695 |
8.762 |
RBI's after-tax profit from operations in Romania fell by 16.6% year-on-year to 161 million euro in 2019.
($ =0.8505 euro)
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