Raiffeisen Bank Romania, part of Austrian group Raiffeisen Bank International (RBI) posted a net profit of EUR 79 million in the first nine months of this year, 8% lower year-on-year, the bank announced on Thursday, November 20.

However, excluding the EUR 12 million one-off profits from fiscal operations, made in the first nine months of 2013, the bank’s profit would have increased by 6.7%, according to the bank’s representatives.

The bank’s assets increased by 4.9% (in local currency) in the last year, to EUR 5.96 billion, at the end of September 2014, as its loan portfolio was up by 4%, to some EUR 3.92 billion. The bank also reduced its non-performing loans (NPL) ratio from 8%, in September 2013, to 7.4%, in September 2014.

Deposits also followed the positive trend, increasing by 3%, to EUR 4.29 billion. Loans to deposits ratio remained constant at 91%.

“Raiffeisen Bank continues to finance companies and individuals in Romania, which is proven by the fact that new loans granted in 2014 passed EUR 1 billion, up by 10% compared to the same period of 2013. Of these, EUR 420 million were granted to individuals,” said Steven van Groningen, President and CEO of Raiffeisen Bank. He added that the bank continues to attract new customers and develop relations with existing clients, which is its main target.

Raiffeisen Bank currently serves about 2 million individual clients in Romania, 100,000 small and medium enterprises (SMEs) and 7,700 larger companies. The bank maintained its network of 528 units and had about 1,100 ATMs and 13,000 EPOS installed.

The number of employees declined by 132, in the last year, to 5.476.

Andrei Chirileasa, andrei@romania-insider.com