The net profit made by Raiffeisen in Romania and R. Moldova declined 55.2 per cent in the first quarter of this year, to EUR 17 M, from EUR 38 M in the year-earlier period, reads the data released by the Austrian bank Thursday. The credit-to-customers portfolio on the two markers shrank slightly, 4.8 per cent, January 1 –March 31, from EUR 4.6 bln in the last quarter of 2008 to EUR 4.38 bln in Q1 of 2009. Deposits dwindled 5.6 per cent in the first quarter against the level in Q4 of last year, from EUR 3.328 bln to EUR 3.525 bln. The operational gain went down slightly to EUR 119 M, from EUR 121 M in the first quarter of last year, yet, it declined 22.7 per cent from the EUR 154 M reported for the last three months of 2008. Before-tax profit halved to EUR 22 M, from EUR 45 M during January-March of last year. The Q1 after-tax Return on Equity (ROE) was down 18.6 per cent against the similar interval of 2008, to 15.5 per cent, from 34.1 per cent. The spending/revenues ratio advanced 2.7 per cent, from 56.4 per cent to 53.7 per cent.