RSS
Raiffeisen Bank reported in the first nine months of the year a net profit of RON 920 million, an increase of 43%
Raiffeisen Bank obtained in the first nine months of the year a net profit of RON 920 million, registering an increase of 43%, and the bank’s revenues increased by 19%, reaching RON 2, 3 billion.
Raiffeisen Bank managed to achieve a solid financial performance in the first nine months of 2022, with a net profit of RON 920 million, registering an increase of 43%, year after year, in an economic environment full of challenges due to the war in Ukraine and inflationary pressures.
The bank’s revenues increased at Q3 2022 by 19% year-on-year, reaching RON 2, 3 billion, and the total assets exceeded RON 62 billion, an increase of 9% compared to September 30, 2021,” the bank announced.
The operational costs of the bank (around one billion lei) registered increase of 7% year in year out, mainly from the salary expenses as a result of the bank’s strategy to invest in drawing and keeping well-trained personnel, as well as through measures meant to compensate the negative effects of inflation on the purchasing power.
The cost of provisions exceeds the level recorded in the first nine months of 2021 by 7%, due to the prudent approach of the bank, in the existing economic context. However, it remains low amid disciplined customer behavior in terms of compliance with payment commitments.
Raiffeisen Bank’s credit balance recorded a significant advance of 27% at the end of the 3 quarter of this year compared to the 3 2021 quarter, supported mainly by a considerable increase in lending activity for corporate clients, of 55%. The growth trend is also among the bank’s SME customers whose net loan stock recorded an advance of 19% (year-on-year), a significant contribution having the implementation of government guarantee schemes.
At the beginning of August 2022, Raiffeisen Bank placed, for the first time, an issue of senior non-preferential sustainable bonds, denominated in lei. The bond issue was addressed to institutional investors and attracted over 500 million lei, for a maturity of 5 years. The funds thus raised will be used to finance sustainable projects exclusively.
Similarly, the number of loans of personal needs offered through the app Smart Mobile doubled in Q3 2022, against Q3 2021.
Customer deposits registered an increase of 7% at the end of September 2022 (year after year).
Payments through Raiffeisen cards for hotels have increased over 50% and those in restaurants, bars, for concerts or events advanced by 20% against the previous quarter of this year. The number of online transactions made by natural persons, through debit cards have increased by almost 40% against the same period of last year.
Raiffeisen Bank has a portfolio of over 570,000 active cards.
The portfolio of individual digital clients (1, 2 million, 54% of the bank’s clients) continued to grow. On average, over 360.000 unique customers use the Smart Mobile app every day, with a peak of over 1, 2 million logins per day in August 2022.
Raiffeisen Bank has been active on the banking market in Romania for 25 years, serving over 2.3 million clients, natural and judicial persons. The bank has 4900 employees, 295 units, 1131 ATM and MFM and 27,000 POS.