Raiffeisen Bank Romania reported a net profit of RON 602 mln (EUR 120 mln) in the first half of 2022, an increase of over 50% compared to the first six months of the previous year.

The growth was based on a solid rise in the stock of loans but also on the significantly improved risk profile, the bank commented.

The stock of loans, of over RON 37.4 bln (EUR 7.5 bln) at the end of June, rose 25% compared to June 2021, propped by an excellent evolution of lending, mostly to corporate customers (+46% YoY).

Several sizeable deals, such as that with Romgaz, contributed essentially.

The stock of loans to SMEs increased by 13% YoY, and those to households by 10% YoY, "above our expectations for this period, given the uncertainty of the macroeconomic environment," according to the bank's statement.

andrei@romania-insider.com

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