Raiffeisen Bank Romania records lower profit in first quarter

Raiffeisen Bank Romania, one of the top 5 local lenders, recorded a net profit of EUR 21 million in the first quarter of this year, down 25% year-on-year. The company also saw its revenues go down year-on-year. The bank increased its lending by 3.6% during this period reaching a total balance of loans of EUR 4.73 billion at the end of March. Raiffeisen Bank Romania raised its assets by 9% to EUR 7.67 billion at the end of the first quarter, according to figures reported by Raiffeisen Bank International. The balance of deposits went up by 15.6% in the first three months of the year to RON 5.84 billion (EUR 1.28 billion), although the interest rates on the market were at low levels. Raiffeisen Bank is among the local lenders that will grant the largest dividends this year, together with BRD-SocGen, Banca Transilvania and UniCredit. The bank wants to pay some RON 180 million (EUR 39.5 million) to its shareholders from last year’s profit. editor@romania-insider.com