November 14 (SeeNews) - Raiffeisen Bank International (RBI) said on Wednesday its after-tax profit from operations in Romania rose to 158 million euro ($177 million) in the first nine months of 2018 from 74 million euro in the like period last year.
RBI's operating income from operations in Romania grew 21.1% on the year in the first nine months of 2018, reaching 407 million euro. Net interest income increased by 27.9% year-on year to 246 million euro in the review period, the bank said in its third-quarter unaudited financial report.
The lender's non-performing loan (NPL) ratio in Romania dropped to 4.5% at the end of September, from 7.6% a year earlier. The coverage of NPLs with provisions rose to 80.2%, from 73.7% at the end of September 2017.
RBI's loan portfolio in Romania increased 16.9% on the year to 5.44 billion euro, driven by sustained performance in the retail segment. Customer deposits increased 13.5% on the year to 7 billion euro at end-September, mostly driven by household savings. The ratio of net loans to deposits reached 77.1% as at the end of September 2018.
Raiffeisen Bank had 432 branches in Romania at the end of September and employed 5,183 people.
Following are details on RBI’s performance in Romania (in millions of euro):
|
9-mo 2018 |
9-mo 2017 |
Profit after tax |
158 |
74 |
Pre-tax profit |
188 |
89 |
Operating income |
407 |
336 |
Net interest income |
246 |
192 |
Net fee and commission income |
140 |
128 |
Loans |
7,003 |
6,172 |
Deposits |
6,761 |
6,018 |
Total assets |
8,789 |
7,795 |
($ = 0.8899 euro)
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