Smaller provisions release weighs on Raiffeisenʼs Hungarian earnings


Austriaʼs Raiffeisen Bank International (RBI) booked first-half after-tax profit of EUR 26 million at its business in Hungary, down 61% from the first half of 2017 as the release of provisions was lower, an earnings report released Thursday shows.   

Net interest income fell 4% to EUR 66 mln, but net revenue from commissions and fees rose almost 2% to EUR 65 mln, state news agency MTI reported.

RBIʼs business released EUR 11 mln in provisions in H1, well under the EUR 41 mln in the base period.  

The business had total assets of EUR 7.162 billion at the end of June, up 3% from twelve months earlier. The stock of client loans increased by 10% to EUR 3.091 bln, while the stock of client deposits rose 12% to EUR 5.238 bln.

The bankʼs ratio of non-performing loans (NPLs) narrowed to 6.8% from 10.9% during the period. 

The business has about half a million clients in Hungary. RBI noted that it booked EUR 13 mln for the bank levy in Q1, the amount for the full year.


European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.