The bank said its net lending grew 8%, to RON21.4 billion at the end of 2017, from RON19.8 billion end-2016. It said loans to individuals grew 9%, loans to SMEs grew 11%, while loans to large corporations grew 10%.
“We are very pleased with the evolution of new loans in 2017, which grew 19% compared with 2016 and amounted to RON13.6 billion. Nearly 60% of new loans went to local entrepreneurs and large companies,” said Steven van Groningen, president and CEO of Raiffeisen Bank.
The bank had a solvency rate of 15.9% in December 2017.
The bank’s revenues stood at RON2.044 billion in 2017, slightly higher from RON2.034 billion in 2016, excluding RON95 million from a VISA deal.
Its operating expenses grew 7%, to RON1.208 billion, as the bank invested in technology and under the impact of considerable wage raises and inflation, which reentered positive territory.