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Raiffeisen books €174 mln loss at Hungarian business in 2012

Food

Raiffeisen Bank International booked a €174 million loss at its business in Hungary in 2012, narrowing from €355 million in the previous year as provisioning plunged, the bank's report for the period published on Wednesday shows. RBI booked €241 million in net provisioning for impairment losses in Hungary last year, about half of the €478 million booked in 2011. Net interest income of the business fell 20% to €239 million. Net revenue from commissions and fees was down 14% at €77 million. The business paid €24 million on the bank levy in 2012. RBI said the payment “had a stronger negative impact on net income than in the previous year.”

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