Raiffeissenbank Nets 34 Mln Leva in Q1 Profit

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Raiffessenbank Bulgaria's Q1 profit stands at 34.41 mln leva (17.5 mln euros) after taxes, which is 104.40% up from a year ago, the bank told Profit.bg.

As at 31 March assets total 6.3 bln leva (3.22 bln euros), which is 57% up year on year and the bank's market share reaches 10.63%.

The credit portfolio rose 54.70% to 3.3 bln leva (1.68 bln euros). Deposits from individuals and enterprises soared 55.37% to 3.80 bln leva (1.942 bln euros).

Raiffeissen's credit portfolio on the Retail Banking segment grew 27.43% to 502.17 mln leva (256 mln euros).

The bank affirmed its position as a leading lender to small and medium businesses in the country. Credits on this segment rose 64.62% y/y to 1.63 bln leva (833 mln euros) in Q1.

Raiffeissen opened 7 new offices in Bulgaria during the period concerned, expanding its network to 157 points of sales. 38 new branches opened doors between 31 March 2007 and 31 March 2008.

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