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March 6, 2021
BUSINESS

Raiffeisen receivables in Romania up 10.8 pc in Q1

Raiffeisen receivables in Romania increased 10.8 per cent in the first three months, to EUR 8.26 bln, from EUR 7.45 bln at the end of the past year, reads the quarterly report of RZB group, taken over by Mediafax.

Thus, the weight of the Romanian market in the total volume of receivables of RZB increased 0.5 percentage points, from 4 per cent to 4.5 per cent. The group held on March 31 total receivables of EUR 181.99 bln, down 3 per cent, from EUR 187.659 bln at the end of 2008. Over two thirds of the total receivables, namely EUR 125.154 bln, are related to the markets from the European Union, Austria included. The total receivables of the Austrian banks on the foreign markets amounted to EUR 359 bln on December 31, 2008, accounting for 126 per cent of the GDP of Austria.

EUR 198 bln from the previous amount represent the receivables held on the markets from Central and East Europe. The receivables of the Austrian banks on the Romanian market totaled at the end of the past year 15 per cent of the total receivables in the region, namely EUR 29.7 bln, according to RZB report. RZB registered a profit after the payment of taxes of EUR 39 M in the first three months of this year, down 67.1 per cent from EUR 117 M in the same period of 2008, after the provisions allotted by the group increased six times, to EUR 596 M, from EUR 96 M.

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