Raiffeisen Bank, one of the top five lenders in Romania, recorded a net profit of EUR 107.5 million in 2017, up by 9% over the previous year, on the back of a higher lending activity.

The bank’s assets went up by 8% to EUR 7.75 billion, at the end of December 2017, pushed by an 8% increase in the net loan portfolio, which reached EUR 5.85 billion, according to a press release.

“Our responsible and balanced development strategy is visible in the loans growth ratio: the loans to individuals increase by 9%, those to SMEs went up by 11% while lending to big companies advanced by 10%. We are very happy with the evolution of new loans extended in 2017, which went up by 19% over 2016, to RON 13.6 billion (almost EUR 3 billion),” said Steven van Groningen, president and CEO of Raiffeisen Bank.

Loans to individuals represented about 57% of the bank’s total portfolio at the end of 2017. The bank also reduced its non-performing loans ratio from 8.2% at the end of 2016 to 6% at the end of 2017.

Raiffeisen Bank serves about 2 million individual clients, 100,000 SMEs and 5,600 big companies. The bank had about 5,200 employees and 451 units at the end of 2017.

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editor@romania-insider.com