Raiffeisen Bank ended last year with a 74 million-euro net
profit according to international financial reporting standards,
with the doubling of loan-loss provisions generating a 55% decline
on the record earnings posted in 2008.
Calculated in line with the Romanian accounting standards
(RAS), the net profit amounted to 68 million euros (287 million
RON). This places Raiffeisen second on the market in terms of
profit calculated according to Romanian standards, after BRD, with
792 million RON, and ahead of BCR, the market leader in terms of
assets, with 237.97 million RON. UniCredit, the sixth-largest bank
in terms of assets, posted a 236 million-RON profit.
In terms of assets in its local balance sheet, Raiffeisen fell
to no. 7 on the market, with 4.69 billion euros, after having
outsourced 1.5 billion euros in loans.
“Only in such difficult times does a differentiation between banks occur. You can have a big market share in terms of assets, but much smaller in terms of profit, or you can even step into the red. We have a rather big market share in terms of assets and a rather good solvency ratio, of 14.2%, so we don’t need a capital increase,” said Steven van Groningen, chairman of the bank.