Net profit increased more than five times to€ 28.1 million. Balance sheet total doubled to € 2 billion. More than 500,000 new customers attracted.
Raiffeisen Bank S.A., Bucharest, has continued its dynamic growth andregistered record results in 2004. At year-end the bank had a balancesheet total of€ 2,085 billion, twice the 2003 year-end figure of € 1,036 million. The bank’s net profit increased more than five times from its 2003 level of € 5.0 million, amounting to € 28.1 million. The return on equity (ROE) surged from roughly 8 per cent to more than 26 per cent.
"The bank showed once again impressive growth, especially on the retailside of the business and with the SME segment emerging", says HerbertStepic, Chairman of the Managing Board of Raiffeisen InternationalBank-Holding AG (Raiffeisen International) and Deputy Chairman ofRaiffeisen Zentralbank Oesterreich AG (RZB).“Raiffeisen Bank shows a healthy and sustainable development, clearly underlining the success in turning around the bank after the purchase of shaky Banca Agricola in 2001”. Beside this, Stepic emphasizes the dynamic increase of new customers – more than 500,000 were attracted in 2004 – reaching 1.5 million at year-end.
In 2004, the bank consolidated its strong position in the Romanianbanking market, where it is the third largest bank, and constantly gainsmarket shares. In terms of total assets, it reached a market share of9.1 per cent (November 2004– preliminary data), up by 26 per cent as compared to year-end 2003. The market share in loans granted to individuals increased from 8.1 per cent (December 2003) to 14.3% (November 2004 – preliminary data).
Raiffeisen Bank S.A. is a top universal bank on the Romanian market,providing a comprehensive range of high quality products. It has beenestablished in 2002 through the merger of Banca Agricola andRaiffeisenbank (Romania). Raiffeisen Bank currently holds 850,000 debitand credit cards and disposes of a network of 205 banking outlets, 680ATMs and more than 4,900 POS.
Raiffeisen Bank is owned by Raiffeisen International Bank-Holding AG(Raiffeisen International), which owns a 99.44 per cent share in theBank. Raiffeisen International is the holding company unit for the RZB’s participations in Central and Eastern Europe (CEE), which runs a network of 15 subsidiary banks with more than 920 banking outlets in the region. Its network banks rank among the three largest banks in eight CEE markets.
Raiffeisen International is a fully consolidated subsidiary of Viennabased Raiffeisen Zentralbank Oesterreich AG (RZB), the centralinstitution of the Raiffeisen Banking Group, Austria''s most powerfulbanking group. RZB is a leading corporate and investment bank in Austria.