Raiffeisen Bank Romania posted net profit of 1.2 billion RON, up 56 percent in 2022

Raiffeisen Bank Romania announced its financial results for 2022, with a net profit of 1.2 billion RON, 56 percent higher than the previous year.

“The very good results recorded by Raiffeisen Bank in 2022 prove to us that we are ready to continue our development, regardless of the economic context we will go through in the coming years. I strongly believe that if our employees feel good and are satisfied, we can provide the best financial expertise and leading digital solutions to our customers. That’s why we have integrated the philosophy, in our day-to-day activity, with visible results in the important indicators: employee satisfaction increased from 76 percent in 2021 to 80 percent in 2022, and NPS (Net Promoter Score) registered a significant increase, from 71 percent to 80 percent. The year 2022 ended with good financial results, with a capital adequacy ratio well above the minimum imposed by the National Bank of Romania and with a strong liquidity position.” said Zdenek Romanek, President & CEO of Raiffeisen Bank.

Raiffeisen Bank had more than 4,900 employees at the end of 2022, 300 more than the previous year. This growth comes mainly from the IT area, areas directly related to customer service (Call Center or the Brasov Operational Center). Salary increases budgets doubled last year, and in 2023 the budget allocated to our employees will continue to grow, to support the retention of well-trained colleagues, as well as programs for professional development of our team. Moreover, Raiffeisen Bank is recognized in the Romanian banking market as a true banking school.

In 2022 we collected more than 300,000 opinions from our customers that help us to constantly improve our services and products. “Focusing on understanding customer needs has led to a significant increase in NPS. We have made and will make changes within the organization, with one goal: to make our customers’ day easier and their business more profitable.” said Zdenek Romanek.

Raiffeisen Bank’s loan balance grew strongly, by 22 percent, in 2022 compared to the previous year, as a result of the development of lending activity for all customer segments. For corporate clients, it registered a considerable increase the credit balance consolidated by 44 percent, year on year. The balance of SME loans increased by 17 percent year-on-year, with a notable contribution also coming from government guarantee schemes, especially the SME Invest program. In 2022 Raiffeisen Bank granted 2,333 loans to more than 2,000 customers from very diverse fields of activity, with an approved value of 592 million euros, within the SME Invest program.

In 2022, the number of online transactions made by individuals, through Raiffeisen Bank debit cards, increased by 36 percent, compared to 2021, and the number of payments by phone or watch increased by 87 percent. Raiffeisen Bank continues to be one of the leaders of the credit card market in Romania, with a portfolio of over 570,000 cards.

The capital adequacy ratio is over 21 percent, well above the minimum level required by the BNR (17 percent). Non-performing loans remained at very low levels (1.75 percent) and the liquidity position (liquidity coverage ratio, LCR) was at a comfortable level (174 percent), well above the minimum regulatory requirements (100 percent). In addition, through the four issues of MREL-eligible bonds placed in 2022, worth 1.7 billion lei, the bank additionally strengthened its ratio of own funds and eligible liabilities to over 32 percent, above the regulatory requirements applicable on January 2023 (27.48 percent).

The Moody’s rating agency reconfirmed in July 2022 the rating given to Raiffeisen Bank for deposits, Baa1 with a stable outlook, located two classes above Romania’s country rating (Baa3), emphasizing its solid position of solvency, liquidity and reduced dependence on market financing.