Raiffeisen Bank posts a net profit of RON 718 M in the first nine months of 2018

0 48

Raiffeisen Bank ended the third quarter of 2018 (Q3) with a net profit of RON 718 million, 91 per cent higher compared to Q3 2017. Total assets of Raiffeisen Bank amounted to RON 39.15 billion (a 15 per cent increase year on year). In the first nine months of 2018, the bank’s revenues exceeded RON 1.85 billion, a 24 per cent growth compared to Q3 2017. The bank’s operating expenses increased by 5 per cent during the same period, to RON 930 million, compared to RON 887 million for the first nine months of 2017. Operating expenses remained significant due to infrastructure and IT investments, increasing labor costs, and inflation, which is becoming an important factor.

Lending continued to be the main driver behind this strong positive evolution: net loans to bank’s customers amounted to RON 24.51 billion, up 19 per cent compared to the similar period of 2017. New loans to companies increased by 32 per cent in the 3rd quarter of 2018 compared to the same period of 2017, SMEs loans by 20 per cent, and loans to individuals (secured and unsecured) by 6 per cent.

I am satisfied that once again we report very good results, which are determined, in the first place, by the balanced and strong organic growth of the bank, on all products and customer segments, especially lending to companies and SMEs. We support the activity and investments of our clients, and this allowed us to reach a 10 per cent market share for loans to Romanian companies and individuals. Given that our operating environment constantly challenges us, with legislative changes and quite unpredictable developments, the fact that we perform at this level and keep growing proves we are a strong and responsible organization“, said Steven van Groningen, President & CEO of Raiffeisen Bank.

Compared to September 2017, customer deposits attracted by Raiffeisen Bank increased by 16 per cent in the first nine months of 2018, and exceeded RON 32.31 billion.

The rate of non-performing loans decreased to 4.3 per cent at the end of September 2018 compared to 7.7 per cent in Q3 2017. The cost of provisions decreased year on year to RON 62 million, determined by the disciplined payment behavior of our clients.

The bank will continue its substantial investments in digitization and simplification to provide affordable, fast and easy-to-understand banking products and services. The number of bank customers using the online and mobile banking apps, Raiffeisen Online and Smart Mobile, exceeded 560,000, a 40 per cent increase compared to the same period last year. The number of logins in both apps increased by 70 per cent, while the number of transactions rose by 40 per cent, year on year.

Raiffeisen Bank continues to be the most important player on the credit card market, with more than 490,000 active cards as of September 30, 2018, a 10 per cent increase in newly issued cards year on year. Over 95 per cent of the amounts traded via credit cards are used at POS or online shopping. Compared to the same period last year, as of September 30, 2018, traded volumes increased by nearly 20 per cent.

Raiffeisen Bank offers its top customers superior services through a personal banker and access to an integrated offer, customized to their needs. The Premium customer portfolio experienced a strong consolidation, growing by 12 per cent in the first nine months of the year, while increasing the satisfaction of current service users.

In the private banking segment (under the Friedrich Wilhelm Raiffeisen brand), Raiffeisen Bank has one of the most appreciated services on the Romanian market and manages assets in excess of RON 5 billion for 1,400 high-wealth clients, which use consulting services, financial tools and related services.

At the end of the third quarter of 2018, the bank had 5,037 employees, 425 outlets across the country, and a network of over 930 ATMs, approximately 19,300 POS and 210 multi-functional machines.

Raiffeisen Bank services 2 million individuals, approximately 100,000 SMEs and 5,600 corporations.

- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More