Raiffeisen Bank Romania’s profit 45% up y/y despite sluggish lending in Jan-Sept
Raiffeisen Bank Romania reported its net profit surged by 45% y/y to RON 1.3 billion (EUR 260 million) in January-September, while its assets advanced by only 9% y/y to RON 67.5 billion (EUR 13.5 billion).
iulian ernst · Journalist
· Updated · 1 min read
Raiffeisen Bank Romania reported its net profit surged by 45% y/y to RON 1.3 billion (EUR 260 million) in January-September, while its assets advanced by only 9% y/y to RON 67.5 billion (EUR 13.5 billion).
This equates to 2.6% annualized ROA, higher than the average benchmark for the entire local banking market in January-June (1.88%) and for the past years in general.
However, the stock of loans registered a growth rate of only 4% y/y, slower compared to the sluggish 4.5% average advance of the market. The growth was generated especially from the segments of legal entities, the bank explained.
The stock of credits related to natural persons remained relatively stable in a macroeconomic context characterized by uncertainty, high inflation and market rates at high levels, according to the bank’s press release.
(Photo source: Lenutaidi/Dreamstime.com)
