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RBI's Q1 after-tax profit in Serbia falls - table

Author Radomir Ralev
RBI's Q1 after-tax profit in Serbia falls - table Source: Raiffeisen Bank International

BELGRADE (Serbia), May 15 (SeeNews) – Raiffeisen Bank International (RBI) said on Wednesday its after-tax profit from operations in Serbia fell 15.8% year-on-year to 16 million euro ($17.9 million) in the first quarter of 2019.

Raiffeisenbank (Serbia) generated an operating income of 36 million euro in the first quarter, the same as in the like period of last year, RBI said in an interim financial report.

Net fee and commission income from operations in Serbia rose by 37.5% to 11 million euro, while net interest income grew by 4.8% to 22 million euro.

The lender's non-performing exposure (NPE) ratio in Serbia was 2.2% at the end of March. The coverage ratio of NPE was 73.1%.

The total assets of Raiffeisenbank (Serbia) rose by 8.7% year-on-year to 2.522 billion euro at the end of March.

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

  Q1'19 Q1'18 y/y pct change
Net interest income 22 21 4.8%
Net fee and commission income 11 8 37.5%
Operating income 36 36 0%
After-tax profit 16  19 -15.8%
Operating profit 17 18 -5.6%
Loans 1.364 bln 1.244 bln 9.6%
Deposits 1.920 bln 1.750 bln 9.7%
Total assets 2.522 bln 2.320 bln 8.7%
Net interest margin 3.88% 4.08% - 0.20 pp

($ = 0.891854 euro)

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