Raiffeisen Bank Romania reports profit of 1.3 billion RON, up 45 percent in first nine months

Raiffeisen Bank Romania reports total assets of 67.5 billion RON, up 9 percent compared to the first 9 months of the previous year and a profit of 1.3 billion RON (+45 percent). Operating expenses increased by 11 percent year-on-year, mainly from personnel, IT, and logistics costs.

In the first 9 months of the year, growth in the segment of pensions, investment plans and life insurance plans exceeded 160 percent, compared to the same period in 2022.

”The confidence we received from investors at the launch of our first Eurobond issue on the international market and from an institution of the caliber of the European Investment Fund, which gave us the highest amount in the market through two guarantee schemes, is proof of our ability to persevere in delivering financial excellence. We perform well across all assets under management while maintaining our vision of becoming our clients’ most trusted partner.” – Zdenek Romanek, President & CEO, Raiffeisen Bank Romania.

Raiffeisen Bank Romania’s customer savings increased by 6 percent year-on-year, because of the increase in the balance of term deposits in all business segments.

In the retail segment, the increase was 7 percent over the previous year. Private individual customers benefited from a wide range of products with attractive interest rates both in lei and in foreign currencies (up to 7 percent yearly for term deposits in lei, 2.7 percent yearly in euros, and 3.5  percent yearly in dollars). The share of term deposits in the total savings of Raiffeisen Bank customers increased from 18 percent at the end of the third quarter of 2022 to 39 percent in the third quarter of 2023.

Loans granted to customers grew 4 percent year-on-year, with growth coming mainly from the corporate segment.