Raiffeisen Bank launches cash back service at Romanian retailers

Raiffeisen Bank recently launched the cash back service at several retailers in Romania. Customers who pay their purchases by card can ask to withdraw up to RON 150 from the cash desk, without any commission. The new service is available in 18 Angst and Carrefour Express stores in Bucharest, Buftea and Otopeni and is valid for all clients with Raiffeisen bank cards. The bank will expand the new facility to other retailers in the coming period. Raiffeisen Bank runs 1.7 million active cards, out of which 350,000 are credit cards. The bank currently runs a network of 10,000 EPOS devices across Romania. Raiffeisen Bank posted a net profit of EUR 96 million in 2011, up 16 percent over the previous year, when the profit was EUR 83 million, the bank has announced. The increase was mainly due to the quality of the loan portfolio, a stable level of provisions, and solid capitalization of the bank. The banks’ total assets were of EUR 5.5 billion at the end of 2011, up 8 percent compared to the same period in 2010. editor@romania-insider.com