Raiffeisen Bank International ups profit in Romania

Austrian group Raiffeisen Bank International increased its net profit in Romania by 6% in the first nine months of this year compared to the same period of 2014, to EUR 86 million. The increase mainly came from a significant decline of the group’s risk costs in the market, as net provisioning went down by a quarter, to EUR 46 million. On the other hand, the group’s operating result went down by 6.1%, to EUR 146 million, as the operating income declined by 3.6%, to EUR 336 million on lower interest income. This evolution reflects the lower interest margins in the market, as well as a more cautious approach by the group, whose loan book remained flat, at EUR 4.44 billion, despite a slight growth of the local market. The group’s assets, however, increased by almost 7% from September 2014 until end-September 2015, getting close to EUR 7 billion, as the resources attracted from clients went up by 13.6%, to EUR 4.84 billion. editor@romania-insider.com