Austrian bank’s subsidiaries in Romania reported last year a combined profit of over 743.8 mln euros, up 88.3% from a year earlier, after massive funds pumped in the recent years by Viennese bankers.
If in 2007, Austrian banks active in Romanian market reported a combined profit of about 395 million euros, last year, the lenders posted a roughly double income driven by operations in domestic market.
Austrian banks active in Romania are: Banca Comerciala Romana, held by Erste Bank, Raiffeisen Bank Romania (Raiffeisen Group), UniCredit Tiriac Bank (Bank Austria) and Volksbank Romania.
Volksbank Romania reported for 2008 a profit before taxes of 37.8 million euros, up 54% from a year earlier, as the total assets hiked at a similar pace. In 2007, the bank marked 24.5 mln euro profit before taxes.
Raiffeisen Bank Romania said it recorded a net profit of 165 million euros, up 75.6% compared to 2007, on solid growth driven by interests and fees, the bank said earlier today.
In prior year, the bank recorded a net profit of 94 million euros.
Raiffeisen Bank Romania’s profit before taxes equated 196 million last year, from 116 million euro a year earlier.
Net interest income rose 23%, up to 245 million euros, while credit fee income hiked 27% up to 246 million euros. Salaries, employee benefits and other administrative expenses increased last year by 12%.
The bank’s total assets reached 4.65 bln euros last year, from 4.4 bln euros in December 2007.
BCR, Romania’s biggest bank ended year with a record after-tax profit of 541 million euros, at a net earning of roughly 193 million euros stemming from the sale of minority stakes in Asiban and Italo-Romena Bank, as well as from own insurance division.
BCR’s total assets rose 9% last year, up to 68.08 bln lei until December 31, 2008, from 63.36 bln lei at the end of 2007. @
