Raiffeisen Bank Romania reports a net profit of EUR 60 million for the first half of 2013

Raiffeisen Bank Romania press release:
Raiffeisen Bank concluded the first six months of 2013 with a net profit of EUR 60 million, a 20 per cent increase compared to June 2012 (EUR 50 million). The bank’s total assets amounted to EUR 5.59 billion, decreasing slightly (-1%) compared to June 2012 (EUR 5.64 billion).

Compared to the same period of the previous year, total loans increased by 6% to EUR 3.6 billion, while deposits increased by 8% to more than EUR 4 billion. The Loans to deposits ratio currently stands at 89% (against 91% in June 2012).

“We ended the first semester of 2013 with a very good result, taking into consideration that the economic environment is recovering, although very slowly. We proved the soundness of our business model under these economic conditions, and I am very pleased with the bank’s performance. For the second half of the year, we will continue to exert a strict control on costs and risks, improve processes and operations where we can and consolidate the relationship with our 2 million customers”, said Steven van Groningen, President &CEO of Raiffeisen Bank.

Raiffeisen Bank’s capital base ratio was 14.2 per cent at the end of the first semester 2013, while its ROE was 19 per cent. Net provisioning for impairment losses decreased slightly to EUR 36 million, compared to EUR 38 million at the end of the first semester in 2012. On the other hand, the NPL ratio remained relatively constant to 8 per cent (7.2 per cent to June 2012).

The bank’s customer base remained constant in 2013, at approximately 2 million individuals, 100,000 SMEs and 7,500 companies. At half-year 2013, Raiffeisen Bank’s network comprised 525 outlets (compared to 539 in 2012), 1,100 ATMs and approximately 11,000 EPOS.

At the end of June the Bank had  5,116 employees, compared to 5,707 as of June 30th 2012.

*All the figures in this press release are audited and in accordance with the international acconting standards (IFRS). They refer exclusively to Raiffeisen Bank S.A. and may differ from those announced by Raiffeisen Bank International AG (RBI) for its operations in Romania in its 2nd Quarter report for 2013, published on the 22th of August.

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Raiffeisen Bank S.A.is a top universal bank that provides a complete range of products and services of superior quality to individuals, SMEs and corporations. Vienna-based Raiffeisen Bank International AG (RBI), the group that owns 99,49% of Raiffeisen Bank’s shares, regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets.