Raiffeisen Bank Romania, the local subsidiary of the Austrian group Raiffeisen Bank International, reported its after-tax profit shrunk by 27% year-on-year to RON 280 million (EUR 57.8 mln) in the first half of the year.

"I am pleased that, despite the unprecedented situation we are in, the bank's revenues increased in the first half of 2020, reaching about RON 1.3 billion (EUR 269 mln), 2% more than in the first half of 2019. The growth rate of loans net (4% year-on-year) was an important factor in maintaining the bank's income on an upward trend," said Steven van Groningen, President & CEO of Raiffeisen Bank.

"Some plans have indeed changed, and some were postponed - such as the planned replacement of the mobile banking applications. Still, on the digital side, we have accelerated a lot, and we have had spectacular evolutions: a growth of 80% in the number of transactions made through online applications, an increase of almost 20% in the number of customers using digital services (year-on-year). Debit card payments have increased by more than 80%, while the number of online payments to suppliers has doubled," he commented.

The bank's total assets reached RON 46.1 bln (EUR 9.5 bln) at the end of June, up 7% compared to the end of the first half of 2019.

The stock of loans granted by the bank reached RON 28.5 bln (EUR 5.9 bln), 4% more than one year earlier. Customer deposits rose sharply to RON 38.4 bln (EUR 7.9 bln), up 15% year-on-year.

Operating revenues edged up by 2% to RON 1.3 bln (EUR 269 mln).

The non-performing loans ratio at the end of June was 4%, slightly down from 4.2% in June 2019.

editor@romania-insider.com

(Photo source: Shutterstock)