Raiffeisen Bank ups net profit to EUR 50 mln in Romania, non-performing loans slightly up

Raiffeisen Bank Romania ended the first half of the year with a net profit of EUR 50 million, a growth of 28 percent on the same period of 2011, the bank announced.

Its assets also upped by 9 percent, to some EUR 5.6 billion. During this period, the volume of loans remained more or less flat, while deposits were up 5 percent, to EUR 3.7 billion. Non-performing loans were slightly up, from a ratio of 6.9 percent of its portfolio, to 7.4 percent. “We ended the first half with a very good result, considering the entire economic and political context at home and abroad. […] The strict cost and risk control, improving efficiency, as well as service and products will continue to be a priority for the bank this year,” said Steven van Groningen, president &CEO Raiffeisen Bank. The bank's provision expenses were up from EUR 26 million in the first half of 2011, to EUR 38 million after six months of 2012. With 2 million clients and 359 bank units in Romania, Raiffeisen Bank has 5,700 employees in the country. editor@romania-insider.com