Lender Raiffeisen Bank Romania announced operating revenues of RON 615 million (EUR 129 mln) for the first quarter of this year, 11% higher than in the same period of 2018. However, its net profit decreased by 16% year-on-year to RON 178 million (EUR 37.5 mln).

The total assets increased by 9% on an annual basis to RON 40.62 billion (EUR 8.6 mln) at the end of March.

The bank’s loan portfolio reached RON 26.5 billion (EUR 5.6 bln), an increase of 14% year-on-year.

“We are proud to be one of the major financing sources and supporters of the Romanian economy. On the other hand, our profits shrank, due to higher wages, fees, contributions to the deposit guarantee fund, regulatory costs, but also due to the cost of digital transformation,” said Steven van Groningen, president and CEO of Raiffeisen Bank.

editor@romania-insider.com

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