Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Raiffeisen Bank Romania posts RON 820 million in...

Raiffeisen Bank Romania posts RON 820 million in H1 2024 net profit

September 3, 2024

Raiffeisen Bank Romania reported a net profit of RON 820 million for the first six months of 2024, down 6% year-on-year, the bank announced on Tuesday."In the first half of the year, we systematically continued to accelerate financial planning services to support our clients in building a better future. We launched MoonShotX, a project that facilitates the expansion of businesses in Romania at regional level. We introduced a new card that combines digital payment services with our long-term commitment to community support. We have invested in innovative technologies based on Cloud and AI, which help us redefine and optimize operations so that our teams can focus on personalized 1:1 interaction with our clients," according to Raiffeisen Bank Romania President & CEO Zdenek Romanek.Raiffeisen Bank Romania's assets reach RON 74 billion in H1 2024, an increase of 12% year-on-year. Revenue growth at 8% year-on-year. Operating expenses have increased by 12% year-on-year, reflecting investments in employee training, retention of well-qualified staff, expansion of the team in key areas, as well as the modernization of IT infrastructure, digital transformation projects, and the continuous improvement of applications and solutions offered to clients.Customer deposits (RON 57.20 billion) continued to strengthen with a 9% year-on-year increase, showing positive variations across all customer segments.The loan stock reaches RON 40,9 billion. After a beginning of the year in which the demand for loans in the market was rather modest, the second quarter saw a rebound in the balance of loans granted to companies (+5% compared to the previous quarter), especially in the area of corporate customers.In terms of the evolution of volumes originated in the first half of 2024 to individuals, personal loans increased by around 40% and mortgage loans increased by around 22% compared to the same period of the previous year.The capital adequacy ratio was 22.08%, well above the minimum required by the NBR (17.81%). Non-performing exposures remained at a low level (1.69%) and the liquidity coverage ratio (LCR) was at a comfortable level (249%), well above the regulatory minimum (100%). At the same time, own funds, and eligible liabilities (MREL) stood at 35.93%, significantly above the regulatory requirements applicable as of June 30, 2024 (32.00%).Through collaboration with the European Investment Fund, Raiffeisen Bank Romania continues to support SME financing with two guarantee schemes worth 400 million euros, the largest investment plan in recent years dedicated to Romanian SMEs.In June, the European Investment Bank (EIB) signed a new guarantee agreement with Raiffeisen Bank under the Recovery and Resilience Facility. This agreement enables Raiffeisen Bank Romania to mobilise EUR 250 million for financing mid-to-large scale investment projects, especially in climate action and digital transformation sectors.This new agreement marks an important milestone in the nearly 15-year partnership with the EIB, during which over EUR 1 billion have successfully been channeled into projects that improve financing access for SMEs, enhancing their competitiveness and supporting their transition to a sustainable future.  

Read in full - click here
Romania – the New Hotspot for Real Estate Investments in Central and Eastern Europe

North Bucharest Investments anticipates a surge in international interest in the local real estate market following the launch of the Romanian Golden Visa program — a modern mechanism granting foreign investors a 5-year residence permit and the possibility to later apply for Romanian citizenship. The program, which allows eligible investments starting from €400,000 in real […]

Bucharest is becoming the epicenter of climate action. Ten reasons to attend the Climate Change Summit 2025

Between October 21-25, Bucharest hosts the Climate Change Summit, the most important event in Central and Eastern Europe dedicated to climate action. The main event will take place on October 21 at the Palace of Parliament, featuring the participation of international leaders, decision-makers, and sustainability experts. CCS Week includes...

Romanian design, sculpture on show in Paris

The works of several Romanian designers and artists will be on display at the Hôtel de Béhague in Paris, the headquarters of the Romanian Embassy, as part of the exhibition Valuable. The Romanian artists and designers included in the exhibition are Radu Abraham, Mircea Cantor, Bogdan Ciocodeică, Constantin Flondor, Cosmin Florea, Nona Inescu, Șerban Ionescu, […]

SCUT brings a unified vision on digital protection - a cybersecurity architecture that eliminates fragmentation between systems

SCUT, Romania’s newest cybersecurity company, has officially launched the concept of the digital cyber shield — a unified approach, co-created with Orange Cyberdefense — that provides a high level of protection, complete visibility, and coordinated assistance in the event of a cyberattack. The event, organized in Bucharest, brought together industry experts, partners of the new […]

Romanian engineering company Simtel to open factory for industrial cleaning robots

The Romanian engineering and technology company Simtel (BVB: SMTL) announced on Tuesday, October 14, that one of its companies will open a factory in Băicoi, Prahova, to produce industrial cleaning robots. Simtel has a 51% stake in Agora Robotics, the company that will operate the factory set to open in November. “We already have a […]

Over 50 NGOs call on Bucharest city officials to increase fines for illegal deforestation

Over 50 civic and environmental organizations are calling on the General Council of the Municipality of Bucharest to increase fines for illegal deforestation. At the moment, the fine for the illegal cutting of a tree is only RON 50 (EUR 10), or even RON 25 (EUR 5) if paid within 15 days. The organizations have […]