Raiffeisen Bank achieved “very good financial performance in the first quarter of 2022” and reported a net profit of 218 million rons, up 10% from the first quarter of the previous year. Press release reported. The increase in profits was due to the increased trading activity of our clients, both individuals and businesses, in addition to maintaining our risk profile at a very good level.
“”Our good results in the first three months of 2022 reflect the economic recovery process that took place shortly after the most significant pandemic period. Therefore, the Bank’s net loan balance increased by 19% compared to the first quarter of 2021 with good results in all business segments. Corporate lending has evolved significantly with a 30% increase, SME lending has increased by almost 10%, and personal lending has also increased 11% year-on-year. Deposits attracted by the Bank increased 13% in the first quarter of 2022 compared to the same period in 2021 and were primarily from the large corporate and mid-market sectors.However, after February 24ththIn 2022, we faced a very unpredictable and difficult situation. The war in Ukraine determines the behavior of different customers. Especially during these times, we do our best to provide our customers with the best financial advice and strive to improve their daily digital banking to make it easier for them.“Zdenek Romanek, President and CEO of Raiffeisen Bank, said.
As of March 31, 2022, the Bank Total income It was 692 million rons, 12% higher than last year’s first quarter. at the same time, Interest income It increased by 16%, supported by the increase in new lending, but also by the upward trend in market interest rates. Net commission income Also, in the first quarter of 2022, there was a 12% increase compared to the first quarter of the previous year due to intensified trading activity by clients, especially in terms of foreign exchange and loan insurance fees.
Operating expenses The first quarter of 2022 is up 8% compared to the first quarter of 2021. This is primarily due to salary costs, IT costs, and, to a lesser extent, utility costs and logistics. Inflationary pressures that affect the economy as a whole also affect the World Bank’s operating costs.
“”Despite all these pressures on cost, our priority is to be a good team, happy with the working environment and continue to invest in the digitization of World Bank services. Therefore, our strategy is to consider optimizing unnecessary costs such as cash management and rent. Reserve costs remain low due to good customer payment behavior that has successfully overcome the pandemic period challenges better than we expected.“, Zdenek Romanek was added.
Nonetheless, 2022 poses extraordinary geopolitical and economic challenges, and due to the Bank’s cautious approach to credit risk, the cost of reserves will rise from Ron 8 million in the first quarter of 2021 to the first quarter of 2022. Increased to 20 million rons.
In the first quarter of 2022, Pulse, a customer feedback platform, launched Highest Satisfaction Score Ever Related to Digital Registration Flow.. Any Romanian who wants to be a Raiffeisen Bank customer can easily do that directly from the SmartMobile banking application without having to go to a branch office.
Portfolio Digitally active customers In the first three months of this year, Raiffeisen Bank continued to grow with more than 50,000 active users, with more than 1.1 million digital active customers as of March 31, 2022.
In March, the World Bank raised interest rates following changes in market interest rates and the situation brought about by the Ukrainian War. RON savings products, Up to 2.5 percentage points. Raiffeisen Bank’s personal savings products are only available in the digital applications Raiffeisen Smart Mobile and Raiffeisen Online.
Raiffeisen Bank continues to be one of Romania’s leaders. credit card A market with a portfolio of over 550,000 active cards.Number of E-commerce transaction What individuals did through Raiffeisen Bank’s debit cards increased by 34% compared to the first three months of last year.Raiffeisen Bank customers Payment by phone With RaiPay on Android, download the application from the Google Play Store or Huawei AppGallery, and with Apple Pay on iOS, use Garmin Pay on your Garmin watch. In the first quarter of 2022, Raiffeisen Bank customers increased the number of card payments made by phone or watch by 83%.
In the first quarter of 2022, customers returned to pre-pandemic behavior, and Raiffeisen debit card payments for online tickets doubled from the first quarter of 2021, as did holiday purchases. Card payments at hotels, restaurants and bars increased by 70% compared to the first quarter of 2021.
A € 325 million loan agreement signed by Romania’s largest natural gas producer ROMGAZ and Raiffeisen Bank More environmentally friendly energy..
Mortgage sales by banking standards offered to individuals increased by 40% in the first quarter of 2022 compared to the first quarter of 2021. In the first three months of this year Green mortgage With over 41% share of the World Bank’s new mortgage-backed loans, 85% of customers bought an apartment and 15% chose a home.
https://www.romaniajournal.ro/business/financial/raiffeisen-bank-posts-net-profit-of-ron-218-million-in-q1-2022/ Raiffeisen Bank posted net profit of 218 million rons in the first quarter of 2022 – Romanian Journal