Bogdan Tudorache
Raiffeisen Bank recorded a net profit of 397 million lei in the first half of 2021, 42% higher than the figure of same period of 2020.
“We are satisfied with our results in the first half of 2021, a year in which we are concerned to support customers and the return of the Romanian economy. We managed to maintain the bank’s risk profile at healthy levels. Together with our clients, we can say that we have successfully overcome this completely unusual period. Moreover, we recorded a very good growth of the bank’s net loan portfolio, by 11% compared to mid-2020. We grew in all customer segments with a peak of 21% growth for SMEs, largely due to our strong involvement in the SME Invest program. Loans for individuals and large and medium-sized corporations have also advanced significantly by 10% and 8%, respectively, ”said Steven van Groningen, President & CEO of Raiffeisen Bank.
At the end of the first half of 2021, the balance of net loans granted to SMEs by Raiffeisen Bank increased by 21% compared to Q2 2020. The bank offers financing solutions both from its own sources and through the use of dedicated guarantee programs, such as IMM Invest, but also extensions of European Investment Fund (EIF) programs.
In the first half of 2021, the net loan portfolio for large and medium-sized corporations increased by 8% compared to same period of 2020, the bank continuing its strategy to support customers’ efforts to adapt to new economic realities, but also the concern for sustainable financing. In the area of companies, the bank is focusing on financing sustainable investments, with a component of reducing the CO2 footprint, bank officials say.
“Together with the Raiffeisen Bank International (RBI), Raiffeisen Bank plays a key role in the transition to a green economy and aims to have a positive impact, both in the way it operates and in the projects it chooses to finance.”
Raiffeisen Bank placed in June 2021 the largest issue of corporate bonds in lei of an issuer in Romania and the second issue of green bonds of the bank, of 1.2 billion lei, after the one in May 2021, which attracted 400.5 million lei.
“Through the two local bond issues in the local market, we reaffirm our commitment to mobilize financial resources for sustainable purposes and to integrate environmental, social and governance (ESG) aspects into risk management, in order to ensure a progressive decarbonisation of the loan portfolio. The funds raised through these bond issues will be channeled into green projects that meet the eligibility criteria defined in the bank’s Green Bond Framework and international best practices,” added Steven van Groningen.
