Loading ...Raiffeisen Bank Romania, the local arm of Austrian group Raiffeisen International, reported a net profit of 74 million euros in the first half of 2008, 57% higher compared to the similar period last year, Raiffeisen Bank reports.
The profit recorded before tax stood at 89.3 million euros, against 53.5 million euros at the end of 2007. The bank’s assets climbed 16% to 4.57 billion euros at the end of June over the similar period in 2007. The data are non-consolidated, according to the international accountancy standards.
According to data supplied by the bank, loans granted by the end of this semester totaled more than 2.9 billion euros, 40% up from last year. Clients’ deposits grew 16% to over 3.5 billion euros.
Administrative and personnel expenses climbed 18% against the same period of 2007.
Administrative and personnel expenses climbed 18% against the same period of 2007.
The revenues from interests went up 35% to 117 million euros, and revenues from commissions hiked 39% to almost 117 million euros.
"Though we have been crossing a period marked by an international financial crisis, Raiffeisen Bank has got very good results in H1 of this year and these results are due to the efforts of our team. We have managed to significantly increase the bank’s profitability at the same time with continuing to expand out unit network at a quick pace. Also, we have planed to increase the quality of our services and build long-term relations with all out clients," Raiffeisen bank President &CEO Steven van Groningen said.
Raiffeisen Bank Romania owns a network of 500 bank units, 964 ATMs and almost 8,000 points of sale (POS). The lender also owns 19 Raiffeisen Bank units – Casa Ta and over 50 "mortgage corners".
The number of employees on June 30, 2008 stood at 6,417 against 5,145 in the same period last year. The lender reported 2.1 million retail clients (out of which 120,000 SMEs) and over 4,400 corporate clients at the end of June.
Raiffeisen Bank resulted from the merger of Banca Agricola-Raiffeisen and Raiffeisenbank (Romania) that took place in July 2002.
Raiffeisen International, which holds 99.49 stake in the bank’s shares, operates one of the biggest bank network in Central and Eastern Europe.
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