Raiffeisen Bank, the fifth-biggest lender in Romania by assets, recorded a net profit of RON 645 million (EUR 130 mln) in the first nine months, 11% higher than in the same period of 2020, the bank announced in a press release.

"We had a very good evolution in the first three quarters of 2021. I am glad to see the growth in the lending activity, on the one hand, and, on the other hand, a very good payment behavior of our customers, a sign that we have passed the first waves of the pandemic. The cost of risk has dropped considerably in 2021 compared to 2020, when we had a rather conservative approach to keep up with the deteriorating economic environment," said Steven van Groningen, President & CEO of Raiffeisen Bank Romania.

In the first nine months of 2021, the bank's net loan portfolio increased by 13% (year on year) - 12% for individuals, 17% for SMEs and 14% for large and medium-sized corporations – to RON 31.6 bln (EUR 6.38 bln).

The total assets went up by 15% year-on-year, to RON 56.8 bln (EUR 11.5 bln) at the end of September.

(Photo courtesy of the company)

andrei@romania-insider.com