Net provisioning for impairment losses was down 53% to EUR8 million, according to the quarterly report.
“At the end of the first quarter of 2016, RBI’s Romanian network bank had over EUR1.3 billion in secured loans to retail customers, around two thirds of which would meet the new [debt discharge] law’s criteria. From a current perspective and using first estimates, RBI expects that the new law would have an additional impact in the mid double digit million euro range over the entire period of execution,” the RBI report reads.
Net interest income stood at EUR61 million, down EUR1 million on the first quarter of 2015, while the net fee and commission income rose by EUR3 million to EUR44 million.
Raiffeisen Bank International’s assets in Romania went up to some EUR7 billion in the first quarter.
(English version by Loredana Fratila-Cristescu)