Raiffeisen Bank enters First House 4 program in Romania with credit ceiling of EUR 115 mln

Raiffeisen Bank has started to grant loans in RON and EUR for a maximum period of 30 years, in the First House 4 mortgage program, with a maximum credit ceiling of EUR 115 million for this phase of the program, according to the bank. Raiffeisen accepts a minimum advance of 5 percent, while the maximum value that can be granted is of EUR 57,000, or EUR 66,500 for property with building permit issued after February 22, 2010. Raiffeisen Bank has provided loans of about EUR 115 million through the First House program, in 2010 and 2011. The First House 4 program addresses individuals who don't own a property or don't have more than one housing unit acquired through any other way then this program, with a surface area under 50 sqm. Raiffeiesen Bank International posted a EUR 16 million profit after tax in Romania in the first quarter of the year, down 56 percent on the same period of last year. The bank has 545 units in Romania and 6,154 employees. Irina Popescu, irina.popescu@romania-insider.com (photo source: Raiffeisen)