Raiffeisen ups profit 15% in Romania on lower provisions

Austrian group Raiffeisen recorded a net profit of EUR 74 million in Romania between January and September this year, up EUR 10 million compared to the same period last year. The higher net profit mainly came from exceptional revenues classified as "other results" worth EUR 22 million. The bank managed to remove several risk provisions, including those related to the giving-in-payment law. The net interest income increased by 1% to EUR 194 million despite the higher increase in the stock of loans. In absolute terms, the increase in net interest income amounted to EUR 2 million. The net commission income suffered more, with a decline of over 6% in the first nine months of 2017, to EUR 128 million. Raiffeisen Bank Romania sees slight increase in net profit in H1 2017 editor@romania-insider.com