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RBI's Q1 after-tax profit in Croatia drops 27.7% - table

RBI's Q1 after-tax profit in Croatia drops 27.7% - table

ZAGREB (Croatia), May 15 (SeeNews) – Raiffeisen Bank International (RBI) said on Wednesday the after-tax profit of its Croatian unit fell to 13 million euro ($14.6 million) in the first quarter of 2019, from 18 million euro in the same period of last year.

Net interest income remained unchanged year-on-year at 30 million euro at the end of the firat quarter, while net fee and commission income increased 6.6% to 16 million euro, RBI said in an interim financial report.

Operating income dropped 13% to 47 million euro.

The ratio of non-performing loans (NPLs) of RBI's Croatian unit decreased to 4.5% in the first quarter, from 7.5% in the prior-year period.

RBI's total assets in Croatia increased 8.1% year-on-year to 4.81 billion euro in the first quarter.

Following are details on RBI's performance in Croatia (in millions of euro unless otherwise stated):

  Q1'19 Q1'18
Net interest income 30 30
Net fee and commission income 16 15
Operating income 47 54
After-tax profit 13 18
Loans 2,397 2,422
Deposits 3,602 3,325
Total assets 4,815 4,453
NPL ratio 4.5% 7.5%

($ = 0.892551 euro)