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RBI's Q1 after-tax profit in Romania falls 20% - table

RBI's Q1 after-tax profit in Romania falls 20% - table Raiffeisen Bank Romania

BUCHAREST (Romania), May 15 (SeeNews) - Raiffeisen Bank International (RBI) said on Wednesday its after-tax profit from operations in Romania fell 20.3% year-on-year in the first quarter of 2019, to 37 million euro ($41.6 million).

RBI's operating income from operations in Romania grew 6.2% on the year in the first quarter of 2019, reaching 131 million euro. Net interest income increased by 20.4% to 90 million euro in the review period, the bank said in an unaudited interim financial report.

Raiffeisen's non-performing loan (NPL) ratio in Romania dropped to 4% at the end of March, from 4.2% a year earlier. The coverage of NPLs with provisions (excluding bonds) rose to 50.9%, from 50.2% at the end of March 2018.

RBI's loan portfolio in Romania increased 11.8% to 5.541 billion euro, driven by sustained performance in the retail segment.

Customer deposits increased 7% on the year to 7.105 billion euro at end-March, mostly driven by household savings. The ratio of net loans to deposits reached 77.4% as at the end of March.

Raiffeisen Bank had 422 branches in Romania at the end of March and employed 5,097people.

Following are details on RBI’s performance in Romania (in millions of euro):

  Q1 2019 Q1 2018
Profit after tax 37 46
Pre-tax profit 45 54
Operating income 131 123
Net interest income 90 75
Net fee and commission income 40 44
Loans 5,541 4,956
Deposits 7,105 6,637
Total assets 8,904 8,391

RBI's after-tax profit from operations in Romania surged 81.5% year-on-year in 2018, reaching 193 million euro.

($ =0.8898 euro)

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