Raiffeisenbank (Bulgaria) EAD (RBBG) publishes its regular monthly economic review with comments on the macroeconomic data available in middle of August.
In the first half of 2015, Raiffeisen Bank International AG (RBI) generated a profit before tax of € 467 million, which was 10 per cent or € 51 million below the comparable level of the previous year’s period. While the operating result was 14 per cent below the previous year's level due to falling net interest income; higher valuation results from derivatives and lower one-off effects than in the previous year (provision for the Settlement Act in Hungary) resulted in an improvement in profit before tax. Profit after tax fell 12 per cent year-on-year to € 326 million. Consolidated profit for the first half-year was € 288 million, which corresponds to a decline of 16 per cent, or € 57 million.
“It was foreseeable that 2014 would be a key year for the European banking sector and that banks with a presence in Central and Eastern Europe (CEE)* would be tested.