November 17 (SeeNews) - Raiffeisen Banka Beograd, the Serbian unit of Raiffeisen Bank International (RBI), will increase its investment in Serbia by 40% to 7 million euro ($7.5 million) this year, local media reported on Thursday.
The bank will pay an income tax of 6 million euro in 2016, news agency Tanjug quoted Raiffeisen Banka Beograd's executive board president, Zoran Petrovic, as saying at the annual economic conference of Raiffeisen Bank in Belgrade.
Petrovic added that Raiffeisen invested half a billion euro in Serbia since it set foot in the country 15 years ago.
RBI said on Wednesday its nine-month profit from operations in Serbia rose by 30.3% on the year, reaching 43 million euro. The bank generated an operating income of 96 million euro in the January-September period, down 6.8% year-on-year.
($ = 0.931757 euro)
Raiffeisen Banka AD is among the biggest banks in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here