Raiffeisen Bank, the Romanian subsidiary of Raiffeisen Bank International, reported a RON 583 million (EUR 120 mln) net profit in January-September, 9% higher compared to the same period in 2019.

"Given the conditions - the lockdown in the second quarter, the decrease in operating income and the increase in the bank's provisions - the fact that we report an increase in lending makes me very satisfied with what we have done as a team," said Steven van Groningen, president & CEO of Raiffeisen Bank.

The bank's total assets increased by 17% year-on-year to RON 49.6 billion (EUR 10.2 bln). The net loan portfolio reached RON 28.39 bln (EUR 5.83 bln), up 3% compared to one year ago, and 4% compared to the end of 2019.

Raiffeisen Bank is one of the banks participating in the IMM Invest program and has so far approved loans worth over RON 1.2 bln.

The share of non-performing loans rate remained at almost the same level as one year ago - 3.9% at the end of the third quarter of 2020 (3.7% Q3 2019).

andrei@romania-insider.com

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