Raiffeisen Bank, the local subsidiary of Austrian group Raiffeisen Bank International, will pay total dividends worth RON 252 million (EUR 54 million) representing 51% of the net profit recorded in 2017.

The bank’s shareholders will vote the dividend proposal on May 2.

Raiffeisen Bank recorded a net profit of RON 491.2 million (EUR 107.5 million) in 2017, up by 9% compared to the previous year. The bank’s revenues amounted to RON 2.04 billion (EUR 447 million) in 2017, slightly higher compared to the previous year, excluding the revenues from the VISA transaction, closed in 2016. The operating expenses increased by 7%, to RON 1.21 billion (EUR 264 million).

Investments in technology, digitization and simplification have influenced this growth. The bank will continue to invest considerable amounts in 2018 in the digitization process.

The shareholders will also approve the bank’s investment plan for this year in the general shareholders meeting on May 2.

editor@romania-insider.com