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RBI's Q1 after-tax profit in Albania drops 44.6% - table

RBI's Q1 after-tax profit in Albania drops 44.6% - table Raiffeisen Bank Romania

TIRANA (Albania), May 15 (SeeNews) – Raiffeisen Bank International (RBI) said on Wednesday the after-tax profit of its Albanian unit fell to 6.8 million euro ($7.6 million) in the first quarter of 2019, from 12.3 million euro in the same period of last year.

Net interest income rose 5.9% year-on-year to 14.2 million euro, while net fee and commission income increased 7.0% to 4 million euro, RBI said in an interim financial report.

Operating income rose 18.1% to 20.5 million euro.

The ratio of non-performinf loans (NPLs) of RBI in Albania decreased to 6.1% in the first quarter, from 6.7% in the prior-year period.

The group's total assets in Albania decreased 2.3% year-on-year to 1.81 billion euro in the first quarter.

Following are details on RBI's performance in Albania (in millions of euro unless otherwise stated):

  Q1'19 Q1'18
Net interest income 14.2 13.4
Net fee and commission income 4 3.7
Operating income 20.5 17.3
After-tax profit 6.8 12.3
Loans 718 699
Deposits 1,519 1,507
Total assets 1,807 1,851
NPL ratio 6.1% 6.7%

The number of RBI business outlets in Albania remained unchanged at 78 as at the end of March.

According to RBI, Albania's GDP will grow 3.8% this year, compared with 4.1% growth in 2018.

($=0.89097 euro)