Raiffeisen assets, flat in H1

Austria’s Raiffeisen International announced the assets of its Romanian unit had climbed by 6.4% in euros since the beginning of this year, to 4.936 billion euros. The increase in euros is smaller than the 7.3% RON/euro exchange rate increase registered during this period. Thus, in RON, Raiffeisen Bank’s assets would have dropped. Halfway through the year, Raiffeisen’s balance in RON totalled 15.4bn RON. The bank’s main rival, UniCredit Tiriac, also reported a slight decline in assets (-4%) between June 2006-June 2007, to 11.3 billion RON (3.6bn euros). Against June 2006, Raiffeisen saw its assets increase by a solid rate of 54%, from 3.19bn euros. The group does not publish detailed data on the income generated by its units. Raiffeisen Bank Romania is due to release its results this week. In the H1 report, Raiffeisen International indicates a significant increase in net fee revenues, particularly on the markets of Romania, Bulgaria and Albania. The group also notes an increase in inter-banking placements, especially amid the rising deposits made by Raiffeisen Romania with the NBR. According to data the group published in Vienna, the domestic unit in mid 2007 operated a network of 337 units.