August 9 (SeeNews) - Raiffeisen Bank International (RBI) said on Thursday its after-tax profit from operations in Romania rose to 93 million euro ($107.8 million) in the first half of 2018 from 55 million euro in the like period of last year.
Raiffeisen Bank's operating income from operations in Romania grew 17% on the year in the first six months of 2018, reaching 264 million euro. Net interest income increased by 22.9% year-on year to 156 million euro in the review period, the bank said in its second-quarter unaudited financial report.
The lender's non-performing loan (NPL) ratio in Romania dropped to 5% at the end of June, from 8% a year earlier. The coverage of NPLs with provisions rose to 82%, from 72.4% at the end of June 2017.
RBI's loan portfolio in Romania increased 16.1% on the year to 5.25 billion euro, driven by sustained performance in the retail segment. Customer deposits increased 12.4% on the year to 6.76 billion euro at end-June, mostly driven by household savings. The ratio of net loans to deposits reached 77.7% as at the end of June 2018.
Raiffeisen Bank had 436 branches in Romania at the end of June and employed 5,248 people.
The bank said it forecasts 5% GDP growth in Romania in 2018.
Following are details on RBI’s performance in Romania (in millions of euro):
|
H1 2018 |
H1 2017 |
Profit after tax |
93 |
55 |
Pre-tax profit |
110 |
65 |
Operating income |
264 |
225 |
Net interest income |
156 |
127 |
Net fee and commission income |
92 |
84 |
Loans |
5,247 |
4,521 |
Deposits |
6,761 |
6,018 |
Total assets |
8,576 |
7,747 |
($ = 0.8621 euro)
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