Raiffeisen Bank to issue EUR 1 bln worth of bonds in Romania
Raiffeisen Bank shareholders will be invited to decide on April 23, in an extraordinary meeting, on the launch a bond issues worth up to a maximum ceiling of EUR 1 billion (or RON equivalent), Ziarul Financiar announced, quoting Raiffeisen…
Romania Insider · Journalist
· Updated · 1 min read
Raiffeisen Bank shareholders will be invited to decide on April 23, in an extraordinary meeting, on the launch a bond issues worth up to a maximum ceiling of EUR 1 billion (or RON equivalent), Ziarul Financiar announced, quoting Raiffeisen Bank Romania CEO Steven van Groningen.
The bonds could be listed on the local or foreign markets, Groningen explained. The bonds may be of various types, such as mortgage bonds, unsubordinated unguaranteed bonds, subordinated bonds (debt instruments used for raising Tier 2 capital), or even contingent convertible capital instruments (debt instruments used for raising Tier 1 capital, known as CoCo bonds).
Raiffeisen Bank Romania reported RON 881 million (EUR 189) net profit in 2018, 79% more than in 2017. The bank's assets increased by 11% to RON 40.04 billion (EUR 8.57 bln), out of which the stock of loans to customers increased by 19% to RON 26.73 billion (EUR 5.72 bln). The deposit base advanced 11% to RON 33.09 billion (EUR 7.08 bln).
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