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Raiffeisen Bank Q1 profits increase 51% yr/yr

Raiffeisen Bank Rt had after-tax profit of Ft 6.32 billion in Q1 2006, 51% more than in the same period a year earlier, deputy CEO Krisztina Horváth announced on Thursday.

Total assets were Ft 1,272.31 billion at the end of March, 22.8% more than twelve months earlier. Horváth said Raiffeisen targets after-tax profit of Ft 21.5 billion in 2006, compared to Ft 15.9 billion in 2005. She added the bank would open its 100th branch in two or three weeks, and the network would reach 120 branches by the end of the year.