Raiffeisen Bank posted a net profit of EUR 83 million last year, up 12 percent compared to the previous year's profit of EUR 74 million. This was largely the result of reduction in provision expenses, from EUR 88 million in 2009 to EUR 48 million in 2010.

At the end of 2010, Raiffeisen Bank's total assets were of EUR 5.11 billion, up 9 percent over the same period last year. Within a year, the total loans increased by 18 percent to EUR 3.04 billion, while the volume of deposits increased by 9 percent, to EUR 3.69 billion.

The loan-deposit ratio was of 83 percent at the end of 2010, compared to 76 percent at the end of the previous year while the solvency ratio (including profit) was of 13.3 percent at the end of 2010.

Raiffeisen Bank’s operating expenses, of EUR 266 million were slightly lower than the previous year (EUR 269 million) and the net income decreased by 8 percent to EUR 413 million. The cost-income ratio increased by 64.5 percent in 2010 from 60 percent last year.

At the end of 2010, Raiffeisen Bank's network included 540 units, down from 559 the previous year and had 6,104 employees, slightly down from 6,138 in late 2009.

Irina Popescu, irina.popescu@romania-insider.com