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March 3, 2021

Raiffeisen posts H1 net profit of EUR 47 M in Romania

Austrian banking group Raiffeisen Bank International (RBI) announced on Thursday that, in the first six months of this year, its subsidiary in Romania recorded a net profit of 47 million euros, down by 16% compared to the result of 56 million euros recorded in the same period of last year, informs a bank’s press release.

RBI said that, in H1, the net revenue from interest rates in Romania fell slightly to 134 million euros, from 141 million euros last year, mainly due to the decrease in interest rates on the market and declining yield of bonds.

On the other hand, customers’ deposits increased by 7.3% to 4.273 billion euros. The number of Raiffeisen units rose by four to 530 units, while the number of customers reached 2.066 million.

At the group level, RBI saw a H1 net profit of 344 million euros, by 24.4% more than in the first half of last year. In Q2, the net profit recorded a surprising increase by 53% to 183 million euros.

Raiffeisen Bank International set up its subsidiary in Romania in 1998. In 2013, the bank earned a net profit of 104 million euros, up by 18% from 2012.

Austrian banks, especially Bank Austria, Erste Group Bank AG and Raiffeisen Bank International AG (RBI), are the largest creditors of the former communist states in Eastern Europe and have a significant presence, including in Romania.


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