Raiffeisen Bank Romania posts record profit, no exit in sight
Raiffeisen Bank Romania recorded a record profit in 2018, 79% higher than the year before, on the back of rising net interest income, higher lending and lower impairment cost.
Romania Insider · Journalist
· Updated · 1 min read
Raiffeisen Bank Romania recorded a record profit in 2018, 79% higher than the year before, on the back of rising net interest income, higher lending and lower impairment cost.
Commenting on a misleading expression in the group’s Financial Report speaking of a re-evaluation of bank’s activity in Romania, Raiffeisen Bank International CEO Johann Strobl quoted by Bloomberg and Hotnews.ro, said that the group doesn't consider the option of an exit from the country, but rather the re-sizing of different business segments. The initial wording, in the context of the adverse regulatory environment in Romania, generated speculations about the bank’s exit.
Raiffeisen Bank Romania ended the year 2018 with a profit of RON 881 million (EUR189 million), 79% higher than in 2017. The revenues reached RON 2.52 billion in 2018, up 23% year-on-year. Interest income grew by almost 28% and the fees charged by 7.4%.
The bank's assets advanced by 11% over the past 12 months to RON 40 billion (EUR 8.5 billion) at the end of last year.
Loans to customers increased by 19% year-on-year, to RON 26.7 billion (EUR 5.7 billion) while customer deposits advanced by 11% year-on-year to RON 33.1 billion (EUR 7.0 billion) at the end of 2018.
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