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October 6, 2022

Raiffeisen Bank, profit of EUR 86 M

Raiffeisen Bank International’s profit in Romania has grown by 6 per cent year-on-year in the first nine months of this year, from EUR 81 M to EUR 86 M, because of the drop in new provisions set up to cover possible losses stemming from bad loans. The Austrian bank’s operating revenue on the Romanian market nevertheless dropped slightly, by 3.6 per cent, from EUR 348 M to
EUR 336 M.

Raiffeisen Bank’s assets in Romania stood at EUR 6.958 bln on September 30, up from EUR 6.92 bln last year, according to the financial results posted by Raiffeisen Bank International on Thursday. Raiffeisen is the 4th largest bank in Romania asset-wise.

The Austrian bank’s balance of loans reached EUR 4.44 bln at the end of September, up by EUR 128 M (2.9 per cent) compared to the level registered on December 31, 2014. Retail loans now hold a higher share in the bank’s assets, compared to last year.

At the same time, its deposits grew by EUR 160 M (3.4 per cent), from EUR 4.68 bln (end of 2014) to EUR 4.84 bln (end of Q3).

In addition, the bank lowered its operating expenditures in Romania by 1.5 per cent to EUR 190 M, against the backdrop of a drop in its number of branches from 530 to 515, despite the fact that its number of employees grew from 5,368 to 5,477.

The level of bad loans reached 9.2 per cent of the total loans registered on September 30, compared to 10.7 per cent at the end of 2014.
Raiffeisen Group is present in Romania since 1994. In 2002 it took over the state-owned Banca Agricola. Raiffeisen Bank currently has over 2.1 million clients in Romania.

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