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Raiffeisen Bank ends H1 with net profit on decrease to 384 mln lei

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Raiffeisen Bank ended the first half of this year with a net profit on the decrease to 384 million lei, from 423 million lei in the first half of 2018, and the total assets of Raiffeisen Bank rose in the first half of this year to 40 billion lei, up 5pct year on year, according to a statement from the bank.

The lending activity continued to grow, and the balance of the net loans granted to the clients of the bank reached 26.22 billion lei, an increase of 11pct, compared to the similar period of 2018.

"The loans extended to large and medium-sized companies increased by 12pct, those to SMEs by 7pct, and loans for the population, guaranteed or unsecured, by 8.5pct, year on year. Our operating revenues also increased by 7pct. This year we report a slightly lower profit than in the first six months of last year, due to methodological changes in the calculation of credit provisions. The net profit, unaffected by these non-recurring changes, would have been 13pct higher than last year,'' said Steven van Groningen, President & CEO Raiffeisen Bank.

Deposits attracted by Raiffeisen Bank from customers increased by 7pct in mid-2019, compared to June 2018, and exceeded the value of 33.4 billion lei.

On 30 June, 2019, the bank's revenues were approximately 1.27 billion lei, by 7pct more than in H1 2018, directly influenced by the growth of the lending activity.

The bank is a leader in the credit card market in Romania with over 500,000 active cards on 30 June, 2019.

At end-June 2019, Raiffeisen Bank had 4867 employees (5,099 in H1 2018), 375 branches nationwide (433 H1 2018), over 840 ATMs (approximately 920 in H1 2018), approximately 21,200 POS devices (20,000 H1 2018) and 266 multi-functional machines (200 H1 2018). Of the 375 units of the bank, 32 are agencies that work without cash.

Raiffeisen Bank has over 2 million individual clients, approximately 92,000 SMEs and 5,800 corporate ones.



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