4.4 million euros H1 profit for Raiffeisen Bank

At the end of the first half of this year, Raiffeisen Bank registered net profits of 4.4 million euros (according to IAS), a figure that is almost equal to the entire 2003 result of 4.6 million euros. Total assets held by the bank rose during the first six months of this year by more than 38.5%, reaching 1,435 million euros. “Financial results reported by Raiffeisen Bank after the first six months of this year show that the bank is strengthening its position in third place within the Romanian banking system. Backed up by our shareholders, we will continue to invest and further develop,” stated Steven van Groningen, Raiffeisen Bank president. Loans granted by Raiffeisen Bank to its customers reached 909.7 million euros, 34.5% higher as compared to the end of year 2003. At the same time, customer deposits rose by 36.1%, amounting to 916.3 million euros. The share capital of the bank currently stands at 10,520 billion ROL (about 256 million euros). ZF